Asian Granito India Limited — JV/Acquisition, 15-07-2026: Acquisition

Asian Granito is restructuring its UAE subsidiary, Harmony Surfaces Marbles (HSM Sharjah), for growth. It will convert a ₹3.38 Cr loan into HSM Sharjah equity, solidifying its balance sheet. Subsequently, HSM Sharjah will raise fresh capital from third-party investors, diluting Asian Granito's stake from 100% to 51%. This strategic move aims to fund HSM Sharjah's business expansion and operational needs. While no longer a wholly-owned subsidiary, Asian Granito retains crucial majority control, enabling continued influence and injecting vital growth capital.