Asian Paints has announced a dilution of its stake in its joint venture company, Asian White Cement Holding Limited (AWCHL). The company’s shareholding now stands at 60%, reduced from 70%. This change follows the issuance of equity shares to RS Holdings Limited as sweat equity on a non-cash basis. RS and ASD now hold 27.14% and 12.86%, respectively, in AWCHL.
Joint Venture Stake Adjustment
Asian Paints has adjusted its stake in Asian White Cement Holding Limited (AWCHL), a joint venture focused on manufacturing and exporting white cement and clinker in Fujairah, UAE.
Details of the Dilution
The company’s shareholding in AWCHL now stands at 60%, a decrease from the previous 70%. This change resulted from the issuance and allotment of 12,08,891 equity shares by AWCHL, representing 16.66% of its pre-issue paid-up share capital. The shares were issued to RS Holdings Limited (‘RS’) as sweat equity on a non-cash basis.
New Shareholding Structure
Following this allotment, the shareholding structure in AWCHL is as follows:
- Asian Paints: 60%
- RS Holdings Limited: 27.14%
- Associated Soap Stone Distributing Company Private Limited (‘ASD’): 12.86%
Background of the Joint Venture
AWCHL was formed to establish a manufacturing facility in Fujairah, United Arab Emirates for the production of white cement and white cement clinker. Commercial production commenced on October 12, 2025.
Source: BSE
