Asian Paints Limited has approved the Scheme of Amalgamation of its wholly-owned subsidiary, Asian Paints (Polymers) Private Limited (AP Polymers), with itself. The decision was taken during the Board meeting held on Tuesday, July 29, 2025.
AP Polymers, incorporated in January 2023, was formed to manufacture VAM and VAE for internal use and is currently setting up its manufacturing facility in Dahej, Gujarat. As of March 31, 2025, the subsidiary had a net worth of ₹804.27 crore and no revenue, while the parent company reported a net worth of ₹19,049.20 crore and a turnover of ₹36,347.93 crore.
The company clarified that this is not a related party transaction under SEBI regulations and no share exchange or cash consideration is involved, since AP Polymers is fully owned by Asian Paints. Upon the scheme becoming effective, all shares of AP Polymers will be cancelled, and there will be no change in the shareholding pattern of Asian Paints.
The amalgamation aims to unlock operational synergies, streamline regulatory compliance, cut administrative costs, and bring more strategic alignment within the group. Asian Paints noted that the move will not have any material financial impact and is subject to regulatory approvals, including from the NCLT Mumbai.
