Kajaria Ceramics’ board has approved acquisition of 30,00,000 equity shares of Rs 10 each of Kajaria Floera Ceramics (Fleora), a subsidiary company, at a consideration aggregating to Rs 3 crore. Consequent upon the completion of acquisition, Floera would become a wholly-owned subsidiary of the company.
The company’s board has also approved incorporation of a wholly-owned subsidiary company in USA by making investment/loan not exceeding $1 million. The Board of Directors of the company at their meeting held on September 24, 2018, considered and approved the same.
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.