Monday , 29 November 2021
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Somany Ceramics gets nod to invest Rs 115 crore in Somany Piastrelle

Somany Ceramics gets nod to invest Rs 115 crore in Somany Piastrelle

Somany Ceramics’ board has approved the investment upto an amount not exceeding Rs 115 crore in one or more tranches, in Somany Piastrelle, by way of combination of subscription of equity shares and inter corporate loan, as and when required. Out of the approved investment of Rs 115 crore, the company has now invested Rs 9.50 crore in Somany Piastrelle towards the acquisition of equity shares by way of right issue.

Somany Ceramics is in the business of manufacturing and trading of tiles, Sanitaryware and Bath Fittings.