Timeline Update
Original Timeline: Expected completion by 31 October, 2026
Revised Timeline: Expected completion on or before 31 March, 2027
Current Status: Acquisition pending due to completion of certain procedural and transactional formalities
Reason for Delay: Completion of procedural and transactional formalities (as disclosed)
Acquisition Details (Unchanged from Original Announcement)
Target Entity: Harmony Surfaces Marbles TR. LLC S.P, Sharjah, UAE ("HSM Sharjah")
Relationship: Wholly Owned Subsidiary of Asian Granito India Limited
Type of Deal: Conversion of outstanding loan and reimbursement of expenses into equity shares
Transaction Structure: Subscription to 372 equity shares at an issue price of AED 3,496 per share
Total Consideration: AED 13,00,430 (approximately ₹3.38 crore)
Financial Impact: Conversion of receivables into equity investment
Reference Regulation: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Regulation 30 read with Schedule III, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
Original Disclosure Date: 15 July, 2026
Approval Status: Procedural formalities ongoing, expected completion by March 2027