Outcome of the Board Meeting held on 10th June, 2025
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Marble City India Ltd's board approved the slump sale of its Tiles segment business, which operates under the global brands 'Neolith' and 'Levantina Techlam®', to Mega Surfaces and Lifestyle Private Limited for a total consideration of Rs 9.5 crore. Instead of cash, the buyer issued 95 lakh equity shares at Rs 10 each to Marble City India as payment, adjusting the full purchase price of Rs 9.5 crore. Post this share allotment, Marble City India will hold 76% in Mega Surfaces and Lifestyle, making it a subsidiary of Marble City India. This development is a continuation of the company's earlier announcement dated December 2, 2024, and has been disclosed under SEBI LODR Regulation 30.
Marble City India is exiting its Tiles business but will gain a 76% controlling stake in Mega Surfaces and Lifestyle as a new subsidiary. Investors should track how this restructuring changes the company's revenue mix and whether the new subsidiary adds value going forward.