Somany Ceramics has informed that the Company Administrative Committee of Somany Ceramics, in its meeting held on 25th August, 2023 has decided to sell Somany Ceramics Limited’s (SCL) equity stake in Somany Fine Vitrified (SFVP) (its Subsidiary Company). SCL is holding 51% of the total paid up capital of the SFVPL and it has decided to sell its entire stake/investment in the equity shares of SFVPL. Consequently, SFVPL will cease to be the subsidiary of SCL after completion of disinvestment. The meeting of Company Administrative Committee was commenced at 3:30 pm and concluded at 4:00 pm. Upon occurrence of event i.e. signing of divestment agreement, the detailed disclosure as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III, the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July, 2023, shall be intimated accordingly.
The above information is a part of company’s filings submitted to BSE.
