15-Oct-2026      16:16

Asian Granito India sells 16% stake in Allomex Steel to related parties

Asian Granito India Limited, formerly known as Amazoone Ceramics Limited, announced that its board approved the sale of a 16% equity stake in Allomex Steel Private Limited, reducing its holding from 26%, with the transaction expected to be completed on October 15, 2026, for Rs 16,000, or Rs 10 per share. The buyers are directors or relatives of directors of AGL Industries Limited, and the transaction qualifies as a related party transaction undertaken at arm’s length based on a valuation report.

News source: Capital Market - Live News