Somany Ceramics’ board has decided to make (in addition to its existing investment) an investment upto Rs 115 crore by way of subscription of equity and/or preference shares in Somany Piastrelle (SPPL), a Wholly Owned Subsidiary of the Company, for efficient funding of its business and growth plans, in one or more than one tranche.
The said proceeds will be utilized for efficient capital structure inter?alia including repayment of existing borrowings. The Board of Directors of the Company in its meeting held on February 7, 2023 has decided for the same.
Somany Ceramics is in the business of manufacturing and trading of tiles, Sanitaryware and Bath Fittings.
Company Name | CMP |
---|---|
Kajaria Ceramics | 1221.05 |
Somany Ceramics | 635.05 |
Cera Sanitaryware | 7225.45 |
Asian Granito India | 62.65 |
Pokarna | 476.25 |
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