Asian Granito India532888New investment
Loan-to-equity acquisition in UAE subsidiary pending; completion now expected by 31 March 2027
Asian Granito India has updated exchanges on converting an outstanding loan and reimbursement of expenses receivable from its wholly owned UAE subsidiary, HSM Sharjah, into equity shares.
By ScoutQuest · · 1 min read
- Shares to be subscribed
- 372 equity shares
- Issue price per share
- AED 3,496 per share
- Aggregate consideration / revised timeline
- AED 13,00,430 (approximately Rs. 3.38 crore); completion on or before 31 March 2027
What the update says
- Asian Granito India had earlier disclosed the conversion of an outstanding loan, and reimbursement of expenses receivable, from Harmony Surfaces Marbles TR. LLC S.P, Sharjah, UAE (HSM Sharjah) — a wholly owned subsidiary — into equity shares, along with subscription to 372 equity shares at an issue price of AED 3,496 per share, aggregating to AED 13,00,430 (approximately Rs. 3.38 crore).
- In this letter, the company states that the said acquisition is currently pending due to the completion of certain procedural and transactional formalities.
- The acquisition was expected to be completed by 31 October 2026. Completion is now expected to be undertaken on or before 31 March 2027.
What stays the same
- The company states that the information submitted to the stock exchanges vide its letter dated 15 July 2026 remains unchanged.
- So the number of shares, the per-share issue price and the aggregate amount of the transaction are as communicated earlier. What has moved is the expected completion date.
How to read this
- This is a status update on an already-announced transaction, not a new transaction.
- The transaction converts an amount the subsidiary owes the company (loan plus expense reimbursement) into equity shares, with the company subscribing to 372 shares at AED 3,496 each.
- The rupee figure of about Rs. 3.38 crore is the stated equivalent of AED 13,00,430.
What to track
- Completion by the revised date of 31 March 2027, since the company has linked the pending status to procedural and transactional formalities.
- Any further exchange update if the timeline changes again.
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More numbers
- Equity shares to be subscribed372 equity shares
- Issue price per shareAED 3,496 per share
- Aggregate subscription amountAED 13,00,430
- Aggregate amount in rupees (approximate)approximately ₹3.38 crore
Source: BSE · 31 Oct 2026
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