Prism Johnson Limited has informed the Exchange about Further investment pursuant to Rights Issue.
PRSMJOHNSN · price
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Prism Johnson Limited has acquired an additional 4,96,80,000 equity shares (face value ₹10 each) of Sentini Cermica Private Limited at par, for a total consideration of ₹49.68 crore, through a rights issue. As a result, Prism Johnson's stake in Sentini has increased from 50% to 90% on a fully diluted basis, converting Sentini from a 50:50 joint venture into a subsidiary of Prism Johnson. Sentini manufactures ceramic tiles at its plant in Vijayawada, Andhra Pradesh, and reported revenues of ₹71.12 crore in FY25, ₹78.40 crore in FY24, and ₹89.68 crore in FY23. The transaction is classified as a related party deal but was carried out at arm's length, with no regulatory approvals required.
This move consolidates Prism Johnson's control over its ceramic tiles business subsidiary, likely improving operational and strategic integration, though it adds ₹49.68 crore of cash outflow. Shareholders may see this as a deepening of the company's presence in the ceramics segment, but should note the declining revenue trend at Sentini over the past three years.