ASI Industries Limited disclosed the incorporation of a new subsidiary pursuant to Regulation 30 of the SEBI Listing Regulations.
The Board of Directors approved the incorporation of ASI Steel and Energy Limited during their meeting held on Wednesday, 17th June 2026. The meeting commenced at 13:00 hours IST and concluded at 13:30 hours IST.
Subsidiary Details:
- Name: ASI Steel and Energy Limited
- Country of Incorporation: India
- Date of Incorporation: Yet to be incorporated
- Industry: Iron & Steel
Ownership Structure:
- ASI Industries Limited will hold 75% equity stake in the proposed subsidiary
- Promoters/persons belonging to Promoter Group of ASI Industries will hold 25% stake
- The proposed entity will be a subsidiary of ASI Industries Limited and hence a related party
Business Purpose:
The subsidiary is being established to explore opportunities/possibilities for setting up a TMT steel plant. This diversification move is due to limited expansion opportunities in the company's main business of mining and processing of Kotah Stone, combined with growth in infrastructure industry and demand for iron & steel products.
Financial Details:
- Consideration: Subscription to share capital in cash
- Shareholding: 75,000 equity shares of ₹10 each at par
- Total Investment: ₹7.5 lakhs (75,000 shares × ₹10)
Regulatory Requirements:
- No governmental or regulatory approvals required except approval of competent authority, if required
- Incorporation is subject to approval of competent authorities
The disclosure was made under Regulation 30 read with Part A of Schedule III of SEBI Listing Regulations and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.