Kansai Nerolac Paints updates on Bangladesh subsidiary

Kansai Nerolac Paints Limited, has a subsidiary in Bangladesh by the name, Kansai Nerolac Paints (Bangladesh) Limited (formerly known as RAK Paints Limited), wherein our Company holds 55% of paid-up share capital.

The company have been informed today by the Bangladesh subsidiary, Kansai Nerolac Paints (Bangladesh) Limited, that in a further issue of shares by the subsidiary, the Company has been allotted 1,65,00,000 equity shares of the face value of BDT 10 per share. The equity contribution of the Company in the further issue of shares by the Bangladesh subsidiary is BDT 16.50 crores (~INR 13.90 crores). The percentage shareholding by the Company in the said subsidiary remains the same i.e. 55% of the paid-up share capital.

Shares of Kansai Nerolac Paints Limited was last trading in BSE at Rs. 447.40 as compared to the previous close of Rs. 441.30. The total number of shares traded during the day was 11482 in over 916 trades.

The stock hit an intraday high of Rs. 450.00 and intraday low of 441.05. The net turnover during the day was Rs. 5125715.00.

Source : Equity Bulls

Keywords

KansaiNerolacPaints INE531A01024 Bangladesh Subsidiary SharesAllotment