Back
Corporate News
Asian Granito India reallocated Rs 440.96 crore rights issue funds for corporate purposes
10-Aug-2026, 07:21
Asian Granito India Limited disclosed a variation in the utilization of funds raised through a rights issue of Rs 440.96 crore on May 10, 2022, according to a filing with the Bombay Stock Exchange and National Stock Exchange on August 10, 2026. The company reallocated Rs 321.68 crore initially intended for capital expenditure through wholly owned subsidiaries, AGL Surfaces Pvt. Ltd., to general corporate purposes, while Rs 94 crore was shifted from working capital for Greenfield projects. Additionally, a Rs 73.80 crore payment was made to a new vendor for a display center in Ahmedabad after a previous contract was terminated, with Rs 0.285 crore still pending from the prior contractor, and a Rs 5 crore advance was transferred to a wholly owned subsidiary for a stock point for trading building construction materials.
Asian Granito India Limited disclosed a variation in the utilization of funds raised through a rights issue of Rs 440.96 crore on May 10, 2022, according to a filing with the Bombay Stock Exchange and National Stock Exchange on August 10, 2026. The company reallocated Rs 321.68 crore initially intended for capital expenditure through wholly owned subsidiaries, AGL Surfaces Pvt. Ltd., to general corporate purposes, while Rs 94 crore was shifted from working capital for Greenfield projects. Additionally, a Rs 73.80 crore payment was made to a new vendor for a display center in Ahmedabad after a previous contract was terminated, with Rs 0.285 crore still pending from the prior contractor, and a Rs 5 crore advance was transferred to a wholly owned subsidiary for a stock point for trading building construction materials.