Joint Venture16 Jan 2026, 10:11 pm
Asian Paints Ltd Reduces Stake in Asian White Cement Holding Limited by 10%
AI Summary
Asian Paints Ltd, a leading player in the paints industry, has announced the dilution of its stake in Asian White Cement Holding Limited (AWCHL), a joint venture company based in the United Arab Emirates. The company has issued and allotted 12,08,891 equity shares, representing 16.66% of the pre-issue paid-up share capital of AWCHL, to RS Holdings Limited on a non-cash basis. This move has resulted in Asian Paints Ltd's shareholding in AWCHL reducing from 70% to 60%. RS Holdings Limited and Associated Soap Stone Distributing Company Private Limited hold 27.14% and 12.86%, respectively, in AWCHL.
Key Highlights
- Asian Paints Ltd reduces its stake in Asian White Cement Holding Limited by 10%
- The company has allotted 12,08,891 equity shares to RS Holdings Limited on a non-cash basis
- RS Holdings Limited and Associated Soap Stone Distributing Company Private Limited hold 27.14% and 12.86%, respectively, in AWCHL
- Asian Paints Ltd's shareholding in AWCHL now stands at 60%
- The decision is in accordance with the Joint Venture Agreement and has been approved by the Board and shareholders