Prism Johnson Invests ₹18.72 Crore in Sunbath Sanitary Pvt Ltd

Prism Johnson Ltd has announced its strategic investment in Sunbath Sanitary Private Limited, marking a significant step in its expansion within the sanitaryware sector.

Prism Johnson has entered into a Shareholders Agreement with Sunbath, a company based in Morbi, Gujarat, which specialises in the manufacturing of sanitaryware. This investment involves Prism Johnson acquiring 50% of Sunbath’s issued and paid-up equity capital on a fully diluted basis, amounting to ₹18.72 crore.

Under this arrangement, Prism Johnson will hold 60,00,000 equity shares of ₹10 each at a premium of ₹21.20 per share. The total investment is based on the fair value determined by a registered valuer. With this acquisition, Sunbath has become a joint venture of Prism Johnson, ensuring that the company will benefit from an uninterrupted supply of sanitaryware in a rapidly growing market.

Sunbath, incorporated on March 8, 2021, under the Companies Act, 2013, operates out of Morbi, Gujarat. The company boasts a state-of-the-art manufacturing plant with an annual production capacity of approximately 11,000 tonnes. Over the past two fiscal years, Sunbath’s turnover has shown growth of ₹1.6 crores in FY 2022-23 and ₹12.5 crores in FY 2023-24.

The objective of this acquisition is to secure a stable supply of high-quality sanitaryware at competitive prices, which aligns with Prism Johnson’s strategic goals. By becoming a significant shareholder in Sunbath, Prism Johnson aims to leverage the company’s manufacturing capabilities and market position to enhance its own product offerings and market presence in the sanitaryware industry. This move reflects Prism Johnson’s commitment to strengthening its supply chain and expanding its footprint in the growing sanitaryware market.

About Prism Johnson Ltd

Prism Johnson Limited was incorporated in 1992 and is one of India’s largest integrated building materials companies. It offers a comprehensive range of products, such as ready-mixed concrete, cement, sanitaryware, bath fittings and tiles.

On August 23, 2024, the share price of Prism Johnson Ltd opened at ₹164.40, touching the day’s high at ₹170.94, as of 10:28 AM on the NSE.

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