Somany Ceramics Acquired 51% Stake In Amora Ceramics
Somany Ceramics Limited had earlier announced an investment of up to 51% in the share capital of Amora Ceramics Private Limited, an unlisted private company having its Regd. Office at Survey No. 147/1p2, Nr. Amora Tiles, Sartanpar Road, Tal. Wankaner, Dist. Morbi, Sartanpar Rajkot, Gujarat - 363622 for setting up a greenfield manufacturing plant at Morbi, Gujarat to produce about 3.8 million square meters of ceramics wall tiles per annum which was duly approved by the Board of Directors of the Company.
In reference to above, the company has subscribed 21,33,636 equity shares of Rs. 10/- each of Amora Ceramics Private Limited (ACPL) and post to this acquisition ACPL has become subsidiary of the company.