Prism Johnson to Sell Part of Tile Plant in Maharashtra to JSW Steel

Prism Johnson Ltd, a leading Indian building materials company, operates through three key divisions: Prism Cement, H&R Johnson (India), and Prism RMC. With a strong presence in cement, ready-mix concrete, and tiles, it serves diverse construction and infrastructure needs through strategically located manufacturing facilities across the country.

Sell of Manufacturing Plant to JSW Steel

In a significant development on February 4, 2025, Prism Johnson announced that its board has sanctioned the sale of a portion of its industrial premises at the tile manufacturing plant in Pen, Maharashtra, to JSW Steel Ltd. The transaction, valued at an impressive ₹164.63 crore, is anticipated to conclude by February 8, 2025.

The decision aligns with Prism Johnson’s strategic focus on asset monetisation and prudent debt management. In its regulatory filing, the company underscored that the proceeds from this divestment would be earmarked primarily for debt repayment.

Company Statement 

The company further clarified that the sale would have no bearing on the operations of its H&R Johnson (HRJ) division. The agreement has been structured on an “as is where is” basis, with Prism Johnson confirming the absence of any related-party affiliations with JSW Steel.

“Under the terms of the definitive agreements, the sale of part of the industrial premises at the Pen plant has been finalised for an aggregate consideration of ₹164.63 crore,” the company stated.

About JSW Steel Ltd.

JSW Steel Ltd, a flagship entity of the diversified JSW Group, is one of India’s leading steel manufacturers. Headquartered in Mumbai, the company operates cutting-edge steel production facilities across the country and commands a significant global footprint.

Share Price Performance

At 9:35 AM on February 05, 2025, Prism Johnson Ltd shares traded at ₹132.65 per share on the NSE.

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