Somany Ceramics Limited completed the acquisition of Schablona India Limited from Appian Pinnacle Holdco Limited.
January 31, 2021
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Somany Ceramics Limited (BSE:531548) in-principally agreed to acquire Schablona India Limited (BSE:507894) on July 17, 2019. Somany Ceramics Limited entered into a scheme of amalgamation to acquire Schablona India Limited for INR 26.4 million on August 22, 2019. Under the terms, Somany Ceramics Limited will issue its 3 shares for every 100 shares of Schablona India Limited. The transaction is subject to approval of the stock exchanges (BSE & NSE), SEBI, National Company Law Tribunal, creditors and other competent authorities. The Board of Somany Ceramics Limited and Schablona India Limited unanimously approved the transaction. SEBI approved the transaction. On December 28, 2020, shareholders, secured and unsecured creditors of Schablona India Limited approved the transaction. As of March 31, 2021, shareholders, secured and unsecured creditors of Somany Ceramics approved the transaction. On December 20, 2021, Hon'ble National Company Law Tribunal, Kolkata Bench, Kolkata pronounced an order approving the scheme. As of December 24, 2021, the Hon'ble National Company Law Tribunal, New Delhi, Principal Bench has approved the scheme of amalgamation. As per update on January 2, 2022. Somany Ceramics Limited has received the certified true copy of Hon'ble National Company Law Tribunal, Kolkata Bench order for approving the transaction.
Somany Ceramics Limited (BSE:531548) completed the acquisition of Schablona India Limited from Appian Pinnacle Holdco Limited on January 1, 2022.
Somany Ceramics Limited is a manufacturer and trader of decor solutions. The Company is engaged in manufacturing ceramic/vitrified wall and floor tiles. It operates through Ceramic Tiles and Allied products segment. It offers a range of products including ceramic tile, floor tiles, polished vitrified tiles, digital tiles, wall tiles, wall claddings, sanitary ware, bathroom fittings, and tile laying solutions. Its wall and floor tiles categories include ceramic, duragres, wall cladding-Novaclad, durastone, and polished vitrified. It offers wall and floor tiles for bedroom, living room, kitchen, bathroom, kidâs room, outdoor and terrace wall cladding. Its allied products include body of hi-flow divertor, body of regular divertor, brass beauty solution, cloth liner and echo bottle trap round. Its tile laying solutions include Ezy Fix, and EZY Grout. Its brands include Somany Duragress, Somany Durastone, Somany Glostra, Somany Vistoso, Somany Vitro, Somany Slipshield and Somany Signature.