Aravali Investment Holdings, Mauritius (Aravali), a wholly-owned subsidiary of WestBridge Crossover Fund, LLC, has executed a Share Subscription Agreement (SSA) and a Shareholders’ Agreement (SHA) with Kajaria Ceramics’ wholly-owned subsidiary -- Kajaria Bathware (KBPL).

Pursuant to the execution of the said Agreements, Aravali has agreed to invest Rs 64.50 crore through subscription of Compulsorily Convertible Preference Shares (CCPS) of KBPL, subject to fulfilment of Conditions Precedent in the said agreements. Post issuance of the said CCPS, the existing shareholding of the company in KBPL will get diluted by 15% (i.e. shareholding of the company would be around 85% of post-issuance capital (on fully diluted basis) of KBPL).

Kajaria Ceramics is the largest ceramic floor and wall tile manufacturer in India. The company has an in-house research and development facility that focuses on developing new designs and creating cost effective products.

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936.50 -10.65 (-1.12%) Mar 01, 18:43
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