Intimation with respect to Receipt of Listing and Trading Approval of equity shares allotted pursuant to Scheme of Arrangement.
M&A
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 09 Apr 2026, 10:55 AM IST · BSE ID: ff05a0d2-4753-44a3-ac77-22d4132dac80
View Original BSE Filing (PDF)
💡
In Simple Terms
Asian Granito completed a major corporate reorganization splitting into two entities. Its new shares are now officially trading on stock exchanges.
🤖 AI Summary
- 6,45,63,636 equity shares of Rs. 10/- each listed after scheme of arrangement approval
- BSE and NSE granted listing approval on 30 March 2026; trading approval 8 April 2026
- Composite scheme involved Asian Granito (Resulting Company 1) and Adicon entities
- Shares now trading on NSE under symbol ASIANTILES from 9 April 2026
- Demerger and reorganization executed under Companies Act 2013 sections 230-232
🔢 Key Numbers — exact figures from BSE filing, not rounded
Equity shares allotted pursuant to scheme
6,45,63,636 shares of Rs. 10/- each
Distinctive numbers range
231911650 to 296475285
BSE listing approval date
30 March 2026
NSE listing approval date
30 March 2026
Trading approval date (both exchanges)
8 April 2026
NSE listing effective date
9 April 2026
🏢 How This Affects the Company
The scheme of arrangement restructures Asian Granito's operational footprint by separating ceramic tiles business (Adicon Ceramica) into a distinct listed entity, allowing focused business management for each resulting company and subsidiary.
Share capital structure changes with 6,45,63,636 new shares issued to scheme participants. Capital structure reorganization may impact future dividend capacity and EPS calculations depending on the allotment distribution among existing and new shareholders.
Corporate structure realignment separates tiles manufacturing and operations into distinct legal entities with independent management, potentially improving operational clarity and decision-making autonomy for each business segment.
Demerger increases complexity of investor tracking across two listed entities. Trading in newly listed shares carries liquidity and valuation discovery risk until market establishes sustainable trading patterns and fair value pricing.
👥 What This Means For Shareholders
✅
Action Required
Existing shareholders must verify their share allotment in demat accounts and reconcile holdings between Asian Granito and newly listed Adicon Ceramics Limited within 30 days of listing.
👤
Who Is Affected
All shareholders of Asian Granito India Limited and scheme participants receive allotted shares per the arrangement. Share entitlement depends on individual shareholding status as on scheme effective date.
🔍
Management Signal
Completion signals management commitment to dual-entity strategy with separate governance, enabling focused operations and distinct capital allocation for ceramics and tiles businesses.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
First quarterly results filing post-listing (Q1 FY27) — track revenue and profitability impact of demerger
Dividend declaration — verify whether Asian Granito and Adicon declare separate dividends indicating operational separation
Promoter shareholding disclosure under Reg 31 — confirm stake distribution between two listed entities post-scheme
MEDIUM RISK
Newly listed shares face liquidity risk. Demerger creates dual-entity complexity requiring investor tracking across two symbol positions.
💡 Investor Takeaway
Asian Granito's scheme of arrangement is now complete: 6,45,63,636 equity shares of Rs. 10/- each are listed and trading on NSE from 9 April 2026 under symbol ASIANTILES. This separates tiles operations into distinct entity while maintaining parent company structure.
⚖️ Strengths & Concerns
✅ Positives
- Scheme completion confirms regulatory clearance from BSE and NSE on same date (30 March 2026)
- 6,45,63,636 shares with defined distinctive numbers (231911650-296475285) ensure clear share registry
⚠️ Concerns
- Newly listed 6,45,63,636 shares face liquidity establishment risk with unproven trading volume patterns
- Demerger splits investor base across two entities, fragmenting shareholder voting power and dividends