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Kansai Nerolac Paints invests in Sri Lankan subsidiary
The parent company has invested around LKR 300 million i.e. Rs. 12 crores in its Sri Lankan subsidiary
- By ICN Bureau
| December 03, 2020
Kansai Nerolac Paints Limited has invested in its Sri Lankan subsidiary, Kansai Paints Lanka (Private) Limited around LKR 300 million i.e. Rs. 12 crores.
Kansai Nerolac Paints Limited holds 60% of paid-up share in Kansai Paints Lanka (Private) Limited wherein 40% is held by Capital Holdings (Private) Limited of the Capital Maharaja Group, Sri Lanka.
The Sri Lankan subsidiary, Kansai Paints Lanka (Private) Limited has informed that in a further issue of shares by the subsidiary, Kansai Nerolac Paints Limited 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 Kansai Nerolac Paints in the further issue of shares by the Sri Lankan subsidiary is about Rs. 12 crores. The percentage shareholding of Kansai Nerolac Paints in the said subsidiary remains the same.
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