Kajaria Ceramics Limited to acquire 51% in South Asian Ceramic Tiles Pvt Ltd

The Board of Directors of Kajaria Ceramics Limited at their meeting held today, have approved acquisition of 51% equity shares of South Asian Ceramic Tiles Private Limited, Hyderabad, Telangana ('South Asian') at a consideration upto Rs. 28.50 Crores and accordingly, South Asian will become a subsidiary of the Company, on completion of the above acquisition by the Company.

South Asian Ceramic Tiles Private Limited, a company incorporated under the Indian Companies Act and having its Registered Office at H No. 6-2-27, 27/A & 28, Unit No. 323, 3rd Floor, Down Town Mall, Lakadikapool, Hyderabad, Telangana -500004 and its manufacturing facility with annual capacity of 4. 79 MSM ceramic tiles at Balanagar, District Mahaboobnagar, Telangana ('South Asian')

The proposed investment/acquisition in South Asian is to carry out the business of manufacturing of tiles and pursuant to the applicable provisions of laws, South Asian will become subsidiary of the Company, on completion of the above investment/acquisition by the Company.

Shares of Kajaria Ceramics Limited was last trading in BSE at Rs. 1073.00 as compared to the previous close of Rs. 999.40. The total number of shares traded during the day was 31917 in over 4218 trades.

The stock hit an intraday high of Rs. 1085.00 and intraday low of 992.70. The net turnover during the day was Rs. 33137669.00.

Source : Equity Bulls

Keywords

KajariaCeramics INE217B01036 Acquisition SouthAsianCeramicTiles Telangana