Kajaria Ceramics Limited announced that it has received INR 749.987923 million in funding from WestBridge Capital Partners LLC, KPCB China
October 28, 2014
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Kajaria Ceramics Limited (BSE:500233) announced a private placement of 200,000 shares at a price of INR 250 per share for gross proceeds of INR 50,000,000 on October 8, 2013. The company will also issue 3,885,420 warrants convertible into shares at an exercise price of INR 257.372433 per share. The transaction will include participation from WestBridge Crossover Fund, LLC, a fund managed by WestBridge Capital and KPCB China. The company will receive 25% of the exercise price of the warrants as upfront payment at the time of issuance. The transaction was approved by the board of directors of the company.
On November 6, 2013, the members at the Extra-Ordinary General Meeting approved the transaction.
On November 11, 2013, the company announced that the board of directors of the company approved the issuance of 2,000,000 shares at INR 250 per share for gross proceeds of INR 500,000,000 to WestBridge Crossover Fund, LLC. The securities will be issued on preferential basis. The company will receive gross proceeds of INR 749,987,922.8 in the transaction.
On the same day, the company issued the shares. The shares are subject to a hold period expiring on December 10, 2014.
On February 18, 2014, the company announced that the board of directors have approved the issue of warrants in this transaction.
On October 27, 2014, the company announced that it has allotted 3,885,420 warrants at INR 257.37 per warrants including the premium of INR 255.37 per share on preferential basis.
On October 29, 2014, Kajaria Ceramics Limited (BSE:500233) closed the transaction.
Kajaria Ceramics Limited is an India-based manufacturer of ceramic/vitrified tiles. The Company's segments include Tiles and Others. The Tiles segment is engaged in the manufacturing and trading of ceramic and vitrified wall and floor tiles. The Others segment is engaged in the manufacturing of sanitary ware and faucet and trading of plywood and block board, and also includes bath ware and plywood products. Its product categories include glazed vitrified tiles - Eternity, ceramic wall and floor tiles, polished vitrified tiles and tile adhesives. The Company's wall tiles product categories include bathroom, kitchen, outdoor, living room, bedroom and wall tiles for commercial spaces. Its floor tiles product categories include living room, outdoor, bedroom, kitchen, bathroom and floor tiles for commercial spaces. The Company's Eternity glazed vitrified tiles include admiral brown, bolvia grey. ambrosia, ambrosia decor, apollo grey, astonia bronze, astonia nero and blossom beige decor.
KAJARIA CERAMICS LIMITED 
