AGL Subsidiary Sells 16% Stake in Allomex Steel

AGL Industries Limited, a wholly-owned subsidiary of Asian Granito India Ltd, has approved the sale of a 16% equity stake in its associate company, Allomex Steel Private Limited. This transaction will result in Allomex Steel ceasing to be an associate of AGL Industries. The sale involves 1,600 shares at ₹10 per share, totaling ₹16,000. The buyers are Directors or relatives of Directors of AGL Industries Limited, and the transaction is considered a Related Party Transaction, conducted on an arm's length basis based on a valuation report. Allomex Steel was incorporated on August 27, 2025, and contributed no turnover, revenue, income, or net worth in the last financial year.