Asian Granito (AGL) - Another Kajaria in making

AGL’s rights issue (redux!) opened today, and thanks to all the antics and tricks pulled by promoters in the last 1 year, the issue was locked in lower circuit through the day.

Today (April 25th) evening the chairman sends a note exhorting shareholders to subscribe to the issue:

Does anyone know what happens when a rights issue falls through – what happens to those shareholders who didn’t sell their rights and wanted to subscribe.

Disc.: invested and negatively biased

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Any updates on what happened after IT raids finished?

I have some small number of shares of Asian Granito and so track it once in a while. It has been almost 2 months since raid was done and there is not initiation from company nor IT dept has made any statement. such things can happen only in India !!

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Siphoned funds being shown as losses now. 60 crore loss!!! Like it’s even possible. Sebi sleeping like always.

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5F0D5866_6F32_4160_8C65_0EB161859966_150223.pdf (379.7 KB)

Any views on how this can shape up

Negative news I guess but doesnt really matter, there was 0 chance of a hostile takeover by Kajaria once Asian granito promoters succeded with the controversial preferential issue.

Asian granito promoters are fraud, there is no doubt regarding that. The company would be 3-4x in hands of any other promoter.

Disclosure: No Position

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Any update further for company


Looks like a turnaround is on the card, only risk are the investors’s shady tricks

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