Kajaria Ceramics Limited (BSE:500233) agreed to acquire additional 9% stake in South Asian Ceramic Tiles Private Limited for INR 51 million on December 28, 2023. Under the terms of the acquisition, Kajaria will acquire 1.89 million shares of South Asian Ceramic and will pay the consideration in cash. As on March 31, 2023, South Asian Ceramic reported turnover of approximately INR 622.4 million and loss after tax of INR 5.6 million.

The transaction is expected to close in 3 months.