Kansai Nerolac Paints Limited invests further in Sri Lanka subsidiary

Kansai Nerolac Paints Limited, has a subsidiary in Sri Lanka by the name, Kansai Paints Lanka (Private) Limited, wherein it holds 60% of paid-up share capital and 40% is held Capital Holdings (Private) Limited of the Capital Maharaja Group, Sri Lanka.

The Sri Lankan subsidiary, Kansai Paints Lanka (Private) Limited, has in a further issue of shares by the subsidiary, the company has been allotted 4,99,99,998 ordinary shares while 3,33,33,332 ordinary shares have been allotted to Capital Holdings (Private) Limited, Sri Lanka. The equity contribution of the Company in the further issue of shares by the Sri Lankan subsidiary is about LKR 300 million (~ INR 12 crores). The percentage shareholding by the Company in the said subsidiary remains the same.

Shares of KANSAI NEROLAC PAINTS LTD. was last trading in BSE at Rs.547.5 as compared to the previous close of Rs. 541.85. The total number of shares traded during the day was 11206 in over 902 trades.

The stock hit an intraday high of Rs. 551.7 and intraday low of 538.45. The net turnover during the day was Rs. 6113020.

Source : Equity Bulls

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