Kajaria Ceramics Limited (BSE:500233) agreed to acquire the remaining 30% stake in Kajaria Floera Ceramics Private Limited for INR 30 million on September 24, 2018. The consideration shall be paid in cash. As per the terms, Kajaria Ceramics Limited shall acquire 3 million shares in Kajaria Floera Ceramics at the price of INR 10 per share. Prior to the transaction, Kajaria Ceramics Limited owns 70% stake in Kajaria Floera Ceramics and Kajaria Floera Ceramics operates as a subsidiary of Kajaria Ceramics Limited. Post-completion, Kajaria Ceramics Limited shall own the entire stake in Kajaria Floera Ceramics and Kajaria Floera Ceramics shall operate as a wholly owned subsidiary. The board of directors of Kajaria Ceramics Limited approved the transaction. The time period for completion of the acquisition is approximately one month.