Madhav Marbles Acquires Additional 18.01% Stake in Subsidiary, Making it a Wholly Owned Subsidiary

Madhav Marbles and Granites Limited, at their board meeting held on 25th March 2026, have approved the acquisition of an additional 18.01% equity stake in Madhav Natural Stone Surfaces Private Limited, an existing subsidiary. This acquisition will increase the Company’s shareholding in the subsidiary from 81.99% to 100%, making it a Wholly Owned Subsidiary. The acquisition is subject to execution of definitive agreements and necessary approvals. The Company intends to leverage the existing land asset of the subsidiary for a proposed Real Estate project, enabling operational efficiency and long-term value creation. The cost of acquisition and price of shares are yet to be decided based on the valuation of MNSSPL.