Mergers & Acquisitions
Restile Ceramics Shareholders Back 98.89% Bell Granito Acquisition at EGM
By News Desk ·
Key takeaways
- Restile Ceramics shareholders approved the acquisition of 98.89% of Bell Granito Ceramica at an EGM on October 28, 2026.
- The deal pairs up to ₹11.70 crore in cash for a 5.19% stake with a swap of 585 Restile shares per 1,000 Bell Granito shares for the remaining 93.70%.
- Restile will issue up to 21,12,32,385 equity shares at ₹10 each, and Bell Granito will become a subsidiary with no change in control of the parent.
Restile Ceramics shareholders approved the acquisition of 98.89% of Bell Granito Ceramica Limited at an Extra-Ordinary General Meeting on October 28, 2026, ScanX reported. The deal combines up to ₹11.70 crore in cash with a share swap and will make Bell Granito a subsidiary of the BSE-listed tile maker.
How the Bell Granito Deal Is Structured
Restile will buy 5.19% of Bell Granito's equity from Atreya Finance Private Limited for cash consideration of up to ₹11.70 crore. The remaining 93.70% will be acquired through a swap of 585 Restile Ceramics equity shares for every 1,000 Bell Granito shares. To fund the swap, Restile will issue up to 21,12,32,385 equity shares at a face value of ₹10 each.
The EGM ran from 12:11 pm to 12:30 pm via video conferencing and other audio-visual means. Members voted on five resolutions, including a new Memorandum of Association, an increase in authorized share capital and enhanced investment limits under Section 186 of the Companies Act, 2013. The chairman said Bell Granito would become a subsidiary with no change in the control or management of Restile Ceramics. Restile describes the transaction as a step toward group consolidation in the ceramics sector.
Restile Ceramics at a Glance
According to akta.pro company records, Restile Ceramics is a BSE-listed manufacturer of full-body vitrified tiles founded in 1986 and headquartered in Vadodara, Gujarat. The same records put sales for the June 2026 quarter at Rs 1.67 crore, up 122.67% year on year, alongside a standalone net loss of Rs 0.16 crore that widened from Rs 0.11 crore a year earlier.
Earlier Restile Ceramics Filings
Restile Ceramics scheduled its 40th Annual General Meeting for September 9, 2026, with a book closure period from September 3 to 9, 2026, ScanX reported in August 2026. In July 2026, Business Standard reported that the company's standalone net loss for the quarter ended June 2026 was Rs 0.16 crore, wider than the Rs 0.11 crore loss in the same quarter of the previous year.
When the Voting Results Are Due
The voting results, including remote e-voting and live e-voting data, were subject to scrutiny by Mitesh Shah & Co., Practising Company Secretary. The final consolidated results were scheduled for announcement within two working days of the meeting's conclusion.