Corporate News
Asian Granito India Limited disclosed a variation in the utilization of funds raised through a rights issue of Rs 440.96 crore in May 2022, according to a filing with the Bombay Stock Exchange and National Stock Exchange on October 21, 2026. The company reallocated Rs 321.68 crore initially intended for capital expenditure through wholly owned subsidiaries AGL Surfaces Pvt. Ltd., and reduced the allocation for working capital for Greenfield projects by Rs 94 crore, while increasing the allocation for general corporate purposes by Rs 947.45 crore. Additionally, Asian Granito India Limited terminated a contract for a display center in Ahmedabad and signed a new agreement, resulting in a transfer of Rs 73.80 crore to a different vendor, with Rs 0.285 crore still pending from the previous contractor, and an advance of Rs 5.00 crore transferred to a wholly owned subsidiary for a stock point for trading building construction materials.