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Kajaria Ceramics Limited announced decisions following its Board Meeting today. The Board approved an increase in the investment limits for wholly-owned subsidiary Kajaria Plywood Private Limited (KPPL) from ₹80 crore to ₹115 crore.
This involves the subscription of equity shares and/or an unsecured loan to KPPL. Additionally, the Board gave the green light for the acquisition of 18,90,000 equity shares of South Asian Ceramic Tiles Private Limited, another subsidiary, at a consideration of ₹5.10 crore.
The Company expects the KPPL investment to be completed in approximately two months, while the South Asian Ceramic Tiles acquisition is anticipated to take around three months.
However, the shares fell 0.34 per cent to ₹1,342.60 at 2.13 pm on the BSE.
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