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Promoter-group co Asian Granito sells its entire 19% stake in Astron Paper for Rs.47-Cr

Business Line  

Tiles-maker Asian Granito India has divested its 18.87% holding in Astron Paper and Board Mill. With this, Asian Granito, as a promoter group, has sold its entire stake in the paper and paper products-maker. Asian Granito sold 87,75,000 equity shares in Astron through a block deal at INR 53.50 per share, amounting to INR 46.94 crore. Astron Paper has 45.93% promoter shareholding, of which individuals and HUF hold 26.79% and others from promoter group — Asian Granito and Shreerangam Packaging — hold a combined 19.14%, which included Asian Granito's 18.87% stake.