Kajaria Ceramics has received approval for the additional acquisition of 18,90,000 equity shares of Rs 10 each of South Asian Ceramic Tiles, a subsidiary company, at a consideration aggregating to Rs 510.30 lakh. The said acquisition is expected to be completed in around 3 months. The Board of Directors of the Company at its meeting held on December 28, 2023, has considered and approved, the same.
Presently, the company holds 51% equity shares of South Asian and after completion of the proposed acquisition of 18,90,000 equity shares of South Asian, holding of the company in South Asian would be increased to 60%.
Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India.
