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17 Jan 2026
Asian Paints Limited has announced a dilution of its stake in joint venture company Asian White Cement Holding Limited (AWCHL) from 70% to 60%, following the allotment of sweat equity shares to its joint venture partner.
Following the equity allotment, the shareholding pattern in AWCHL has been restructured. Asian Paints' stake has reduced from its earlier position of 70% to 60%, while RS Holdings' shareholding has increased to 27.14%. Associated Soap Stone Distributing Company Private Limited (ASD) maintains its stake at 12.86%.
The joint venture was established to enter the white cement manufacturing and export business through a facility located in Fujairah, United Arab Emirates. The partnership involves RS Holdings Limited from UAE and Associated Soap Stone Distributing Company Private Limited from India.
The manufacturing facility achieved a significant milestone when it commenced commercial production on October 12, 2025.
The announcement was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of material events.
Shailesh Chimanlal Choksi HUF has submitted mandatory regulatory disclosures to stock exchanges following the demise of Mr. Shailesh Chimanlal Choksi, a member of Asian Paints Limited's promoter group.
The transaction falls under the exemption provided in Regulation 10(1)(g) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which covers transmission of shares due to death.
The change in Karta from Shailesh Chimanlal Choksi to Jigish Shailesh Choksi represents a succession within the HUF structure while maintaining the entity's position as part of Asian Paints' promoter group.
