Asian Paints Limited (APL) has announced a dilution in its stake in its joint venture company, Asian White Cement Holding Limited (AWCHL), from 70% to 60%. This change follows the issuance and allotment of 12,08,891 equity shares, representing 16.66% of AWCHL's pre-issue paid-up share capital, as sweat equity to RS Holdings Limited on a non-cash basis. The JV, established for manufacturing and exporting white cement and white cement clinker in Fujairah, UAE, commenced commercial production on October 12, 2025.

Following this allotment, RS Holdings Limited now holds a 27.14% stake, and Associated Soap Stone Distributing Company Private Limited (ASD) holds 12.86% in AWCHL. The decision was made in accordance with the Joint Venture Agreement and received approval from AWCHL's board and shareholders.

This intimation is a continuation of previous disclosures regarding the company's entry into the white cement business through this joint venture.