Prism Johnson Sells Maharashtra Tile Plant Asset to JSW Steel for ₹164.63 Crore

5 Feb 2025 , 11:06 PM

Prism Johnson Ltd said its board has approved the sale of part of the Industrial premises of its tile plant situated at Pen at Maharashtra, to JSW Steel Ltd.

The total value of transaction is ₹164.63 crore. The completion of the sale was expected by February 8, 2025. The divestment is in line with the plan of Prism Johnson to monetize assets and optimize the debt. The sale will have no effect on HRJ (H&R Johnson) division of the company, company said

Prism Johnson is a prominent integrated building materials manufacturer in India, with a product portfolio spanning cement, ready-mixed concrete, ceramic tiles, sanitaryware and bath fittings.

Under the agreement, which is based on an “as is where is” basis, the premises will be handed over as is. Prism Johnson has no related-party transactions with JSW Steel. It is neither a share issuance nor does it grant any special rights to JSW Steel. Prism Johnson said that the deal does not impact its capital framework or board structure.