Key Quantitative Figures

  • Total fractional shares sold: 14 equity shares
  • Average selling price: ₹60.50 per share
  • Gross proceeds from sale: ₹851.67
  • Total deductions: ₹25.845
  • Net amount distributed to shareholders: ₹825.8250

Dates of Action

  • Scheme effective date: 1 March 2026
  • Record date for entitlement: 5 March 2026
  • Allotment date: 5 March 2026
  • Fractional shares sale date: 3 June 2026
  • Disbursement completion date: 4 June 2026
  • Certification report date: 5 June 2026

Parties Involved

  • Reporting Company: Asian Granito India Limited (AGIL/Resulting Company 1)
  • Demerged Company: Adicon Ceramica Tiles Private Limited (ACTPL)
  • Resulting Company 2: Adicon Ceramics Limited
  • Trustee: Dr. Dhruti Mahesh Trivedi, Company Secretary and Compliance Officer
  • Regulatory Authorities: SEBI, National Company Law Tribunal (Ahmedabad Bench), Registrar of Companies (Ahmedabad)
  • Stock Exchanges: BSE Limited (Scrip Code: 532888), National Stock Exchange of India Limited (Scrip Code: ASIANTILES)
  • Audit Committee Members: Mr. Kandarp Trivedi (Chairman), Mr. Maganlal Prajapati, Mr. Kamleshkumar Patel
  • Independent Directors: Mr. Kandarp Trivedi, Mr. Mukesh Mahendrabhai Shah, Mr. Maganlal Prajapati, Mr. Hemendrakumar Chamanlal Shah, Ms. Yashree Kaushalbhai Dixit

Scheme Details

  • Appointed Date: 16 October 2023
  • Share Exchange Ratio: 1060 equity shares of AGIL (₹10 each) for every 11 equity shares of ACTPL (₹10 each)
  • NCLT Approval: Order dated 17 February 2026 from Hon'ble National Company Law Tribunal, Ahmedabad Bench
  • Fractional Share Treatment: Fractions consolidated and rounded up to next whole number (14 shares), allotted to trustee for sale

Distribution Process

Trustee Dr. Dhruti Mahesh Trivedi was appointed via circular resolution dated 5 March 2026 to hold in trust and sell the fractional entitlements. The 14 consolidated shares were credited to a separate demat account. After sale on 3 June 2026, net proceeds of ₹825.8250 were distributed to eligible shareholders on 4 June 2026 after deducting applicable expenses and taxes.

Certification

Both the Audit Committee and Independent Directors have certified that the proceeds from sale of fractional entitlements have been distributed to eligible shareholders in proportion to their fractional entitlements in accordance with SEBI Master Circular requirements and clause 10.3 of the scheme.

#Tags: #AsianGranito #SchemeOfArrangement #SEBIDisclosure #FractionalShares #CorporateAction