Somany Ceramics’ board has approved incorporation of subsidiary company namely ‘Somany Max’ in India. This new subsidiary of the company will set up Greenfield manufacturing facility of large format/ slab tile of approximately 4 million square meters per annum in Gujarat.
The investment in the proposed subsidiary (to be incorporated under the Companies Act, 2013) would be upto Rs 170 crore in one or more tranches, through subscription/acquisition of equity shares of proposed Subsidiary and/or granting of unsecured loan(s) to the proposed subsidiary. The Board of Directors of the company at its meeting held on February 2, 2022, has approved the same.
Somany Ceramics is in the business of manufacturing and trading of tiles, Sanitaryware and Bath Fittings.
| Company Name | CMP |
|---|---|
| Kajaria Ceramics | 1178.20 |
| Somany Ceramics | 441.15 |
| Cera Sanitaryware | 5332.20 |
| Asian Granito India | 75.34 |
| Pokarna | 928.60 |
| View more.. | |
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