Prism Johnson has agreed to acquire 35,00,000 equity shares at a price of Rs 37 each aggregating to Rs 12.95 crore, constituting 35% in thetotal paid-up equity share capital of Sanskar Ceramics. The Companypresently holds 15% of the paid-up equity share capital in Sanskar. Subsequent to the aforesaid investment, the shareholding of the Company in Sanskar would increase to 50%.

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The Board of Prism Johnson at its meeting held on 06 July 2020 has approved divestment of its entire holding of 51% of the paid-up equity share capital in Raheja QBE General Insurance Company (RQBE), a material subsidiary, to QORQL, a technology company with majority shareholding of Vijay Shekhar Sharma and remaining held by Paytm (owned by One97 Communications), for an aggregate consideration of Rs. 289.68 crores, subject to receipt of approval by the shareholders of the Company and all other requisite approvals (Divestment).

The consideration to be received by the Company for the Divestment is subject to certain adjustments which may be carried out between the date of execution of definitive agreement and closure of the sale, and other customary terms for a sale of such nature.

The divestment will result in the termination of the Company's joint-venture with Australia's QBE in the general insurance business in India. Post the divestment, RQBE will also cease to be a subsidiary of the Company.

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The Board of Prism Johnson at its meeting held on 28 May 2020 has approved raising of funds through issue of Unsecured, Redeemable, Listed, Taxable, Non-convertible Debentures, Tranche - XVI (NCDs) of face value of Rs. 10,00,000/-, aggregating Rs. 50 crore on privateplacement basis.

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Net loss of Prism Johnson reported to Rs 30.75 crore in the quarter ended March 2020 as against net profit of Rs 41.85 crore during the previous quarter ended March 2019. Sales declined 15.58% to Rs 1463.15 crore in the quarter ended March 2020 as against Rs 1733.08 crore during the previous quarter ended March 2019.

For the full year,net profit declined 98.58% to Rs 1.65 crore in the year ended March 2020 as against Rs 116.40 crore during the previous year ended March 2019. Sales declined 3.82% to Rs 5890.07 crore in the year ended March 2020 as against Rs 6123.84 crore during the previous year ended March 2019.

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