Kajaria Ceramics has received an approval to dispose/transfer 15,30,000 equity shares of Rs 10 each of Soriso Ceramic (Soriso), a subsidiary company, held by the company at an aggregate consideration up to Rs 11 crore. The Board of Directors of the company at its meeting held on July 24, 2018, approved the same.
Consequent upon the completion of disposal/transfer of the above said shares, Soriso shall cease to be a subsidiary of the company.
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.