Carborundum Universal has executed a letter of intent (LoI) on August 04, 2014, with Cellaris, for the purchase of 6,725,250 equity shares representing the remaining 49% of the equity capital held by Cellaris in CRIL subject to necessary approvals. Pursuant to this, CRIL, currently a subsidiary will become a wholly owned subsidiary of the company. The change in ownership is expected to speed up scaling up at CRIL and will ensure continuity of operations and product development.
Cellaris Refractories India (CRIL) is a joint venture between Carborundum Universal, India (CUMI) and Cellaris, Israel (Cellaris) set up for the production of light weight Alumina cell for refractory/insulation application. CUMI is holding 51% and Cellaris is holding 49% of the total share capital of CRIL being Rs 137.25 million equity share capital.
Carborundum Universal is a fully vertically integrated Abrasives, Electro-minerals, Ceramics, Refractory Company with operations in Australia, Canada, China, India, Middle East, Russia, South Africa, Thailand and the USA.
| Company Name | CMP |
|---|---|
| Carborundum Univer. | 939.95 |
| Grindwell Norton | 1574.25 |
| Wendt India | 7090.95 |
| John Oakey & Mohan Ltd. | |
| Alirox Abrasives | |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: