Kajaria Ceramics Limited announced that a Joint Venture Agreement is executed on September 19, 2023 between KAJARIA INTERNATIONAL DMCC, U.A.E., a wholly-owned subsidiary of the Company and UK PARTS (HOLDINGS) LTD, UK. The purpose of this Agreement is to enter into a joint venture for doing trading & marketing business of Glazed Vitrified Tiles, Polished Vitrified Tiles and other allied products in UK. through a newly incorporated company namely KAJARIA-UKP LTD at United Kingdom, as per the laws of England & Wales, by way of acquiring its shares in the equal ratio, i.e. 50:50, on joint venture basis or by way of loan, as the case may be.

Two directors will be on the Board of KAJARIA-UKP LTD (JVC), out of which one director to be appointed by each party; Presence of two directors representing each parties will be required to constitute quorum for a Board meeting JVC; The parties will subscribe/acquire shares of JVC in equal ratio, i.e. 50:50; and Any increase/decrease in share capital of JVC will require approval of the both the parties.