EID Parry has completely divested all shares in Roca Bathroom Products Private Ltd (RBPPL) — a 50: 50 joint venture company between Chennai-based $3.8 billion Murugappa Group’s EID Parry (India) Ltd and Spain’s Roca group.
Roca Bathroom Investments SL (ROCA SL) has exercised the call option notice for purchasing the balance 64,045 equity shares held by EID Parry in RBPPL, for Rs 22.2 crore, said the company’s annual report. EID Parry transferred the 64,045 equity shares of Rs 10 each to ROCA SL in March.
The company was initially named Parryware Glamourooms Private Ltd, then renamed Parryware Roca Pvt Ltd in May 2006 after Roca came aboard and subsequently it was in 2008 the joint venture company was came to be known as RBPPL.
The company’s products include water closets, wash basins, urinals, Indian pans, bidets, bathtubs, sinks, seat covers, cisterns, accessories and faucets.
