Asian Granito is restructuring its UAE subsidiary, Harmony Surfaces Marbles (HSM Sharjah), for growth.

Asian Granito India LimitedASIANTILES · Filed with the exchange

It will convert a ₹3.38 Cr loan into HSM Sharjah equity, solidifying its balance sheet.

Subsequently, HSM Sharjah will raise fresh capital from third-party investors, diluting Asian Granito's stake from 100% to 51%. This strategic move aims to fund HSM Sharjah's business expansion and operational needs.

While no longer a wholly-owned subsidiary, Asian Granito retains crucial majority control, enabling continued influence and injecting vital growth capital.

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Asian Granito is restructuring its UAE subsidiary, Harmony Surfaces Marbles (HSM Sharjah), for growth.

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