Kajaria Ceramics (KCL), India's largest tile manufacturer has acquired 51% stake in Jaxx Vitrified, based in Gujarat in all cash deal for Rs 6.26 crore. The company has acquired 23.20 lakh equity shares of Rs 10 each for Rs 27 per share. This is the second acquisition by Kajaria Ceramics in the state of Gujarat.
Jaxx has an annual capacity to produce polished vitrified tiles of 3.10 million square meters per annum, the addition of which would take the total annual capacity of Kajaria Ceramics to 33.70 million square meters including 5.40 million capacity of subsidiaries.
Jaxx has a brand new plant which will start the commercial production next month, i.e. in February 2012. This will help Kajaria to reduce import dependence to cater to the western and southern markets to take logistic advantage.
Kajaria Ceramics manufactures more than 400 options of flooring solutions such as wall tiles, floor tiles, vitrified tiles and Spanish and Italian tiles. The tiles major market these products under the brand name Kajaria, Kerrogres, Eternity, Aparici, Saloni ceramica, Ergon and GRESPANIA Ceramica.
| Company Name | CMP |
|---|---|
| Kajaria Ceramics | 1178.20 |
| Somany Ceramics | 441.15 |
| Cera Sanitaryware | 5332.20 |
| Asian Granito India | 75.34 |
| Pokarna | 928.60 |
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