An unknown buyer acquired 51% stake in Anjani Tiles Limited from Cera Sanitaryware Limited for INR 286.92 million.
March 22, 2023
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An unknown buyer agreed to acquire a 51% stake in Anjani Tiles Limited from Cera Sanitaryware Limited (BSE:532443) for INR 286.92 million on August 5, 2021. The total enterprise value of Anjani Tiles Limited is INR 595.2 million. The Board of Directors at their meeting held on 5th August, 2021 have only In-principally approved proposal of divestment of its entire stakes in Anjani Tiles Limited. Once the Terms and conditions including consideration are finalized, Definitive agreement will be executed. RBSA Capital Advisors LLP acted as sell side valuation advisor. Total consideration of INR 286.92 million to be completed by 31 March, 2023
An unknown buyer completed the acquisition of 51% stake in Anjani Tiles Limited from Cera Sanitaryware Limited (BSE:532443) on March 23, 2023.
Cera Sanitaryware Limited is engaged in the business of manufacturing, selling, and trading of building products and is having nonconventional wind & solar power for captive use in the State of Gujarat. Its products and services include sanitaryware, faucets ware, tiles, bathroom accessories and allied products. Its Sanitaryware products include EWCs, wash basins, cisterns, seat covers, urinals, electronic flushing systems, special needs range, bath accessories, water saving products and kidâs range. Its Faucets & Showers products include foot operated faucet, single lever faucets, quarter turn faucets, half turn faucets, sensor and touch faucets, special need products, other allied products, health faucets, bathroom accessories and Cera auxiliaries. Its tiles products include wall and floor tiles. Its Wellness products include free standing bathtub, drop-in bathtub, air and water massage bathtub, and others. It also offers shower products, kitchen sinks and personal care products.