Investment company Promethean India PLC said it has acquired a 5.28 pct stake in India-based Nitco Tiles Ltd through its Mauritian subsidiary, Promethean India Investments Fund 1.
Nitco Tiles makes building products and distributes ceramic tiles and imported marble. The company also has a newly formed real estate development business through its wholly owned subsidiary, Promethean India said.
No financial details were disclosed. (Hemscott)