Pursuant to the provisions of Regulation 30 of the Listing Regulations, we wish to inform you that Kajaria Ramesh Tiles Limited, Nepal, joint venture of the Company has incorporated a wholly-owned subsidiary company namely K.R. Industries Private Limited in Nepal.Details pursuant to Regulation 30 of the Listing Regulations are given in Annexure-A.
KAJARIACER · price
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Kajaria Ceramics' joint venture KRTL (Kajaria Ramesh Tiles Limited, Nepal) has incorporated a new wholly-owned subsidiary called K.R. Industries Private Limited (KIPL) in Nepal. KIPL has been set up with authorised capital of INR 1.25 crore and paid-up capital of INR 1.25 crore. Since Kajaria holds 50% equity in KRTL, its indirect shareholding in KIPL is 50%. The new entity currently has zero turnover as it was newly incorporated. The purpose is to continue and support KRTL's business operations in Nepal.
This is a routine corporate structure expansion and does not materially impact Kajaria Ceramics' financials. The new subsidiary with nil turnover and modest investment of INR 62.5 lakh (Kajaria's 50% indirect cost) is unlikely to have any immediate impact on the company's stock price or shareholder value.