Nature of the Disclosure
Update on proposed investment in M/s. Siravit Ceramics Private Limited (SCPL) regarding timeline extension approval.
Key Quantitative Figures
- Investment amount: Rs. 58.80 crore
- Maximum stake acquisition: Up to 49% of SCPL's share capital
Dates of Action
- Original Board approval date: 13th July, 2026
- Original completion timeline: Approximately 90 days from 13th July, 2026 (would have expired around 11th October, 2026)
- Administrative Committee meeting date: 9th October, 2026
- Meeting time: Commenced at 5:00 PM, concluded at 5:20 PM
- New extended timeline: Up to 8th January, 2027
- Disclosure date: 9th October, 2026
Parties Involved
- Somany Ceramics Limited (Investor)
- M/s. Siravit Ceramics Private Limited (SCPL) (Investment Target)
- Company Administrative Committee (Approving authority)
- Board of Directors (Original approving authority)
- Anuj Kalia, Company Secretary & Compliance Officer (Signatory)
Purpose and Rationale
Extension approved due to funding requirements and implementation progress of SCPL's proposed manufacturing facility. Investment will be made in one or more tranches based on these factors.
Transaction Details
- Investment method: Acquisition and/or subscription of equity shares and/or preference shares
- Investment structure: One or more tranches
- Maximum investment limit: Rs. 58.80 crore remains unchanged
- Final stake target: Up to 49% shareholding in SCPL remains unchanged
- No other changes to terms of the Proposed Investment