Kajaria Ceramics Limited (BSE:500233) agreed to acquire 51% stake in South Asian Ceramic Tiles Private Limited for approximately INR 290 million on July 21, 2022. Under the terms of the acquisition, Kajaria will acquire 10.17 million shares of South Asian Ceramic and will pay the consideration in cash. Post acquisition, South Asian will become a subsidiary of Kajaria Ceramics. As on March 31, 2022, South Asian Ceramic reported turnover of approximately INR 310 million and loss after tax of INR 72.8 million. The transaction has been approved by the Board of Kajaria Ceramics and is expected to complete in approximately 6 months.

Kajaria Ceramics Limited (BSE:500233) completed the acquisition of 51% stakes in South Asian Ceramic Tiles Private Limited approximately INR 250 million on August 31, 2022.