The paint maker on Friday (1 January 2021) announced that it subscribed 1.65 crore equity shares of its subsidiary, Kansai Nerolac Paints (Bangladesh).Kansai Nerolac Paints holds 55% stake in Kansai Nerolac Paints (Bangladesh) (formerly known as RAK Paints). In a further issue of shares, the subsidiary allotted 1,65,00,000 equity shares of face value Bangladeshi Taka (BDT) 10 each to Kansai Nerolac Paints. The investment aggregates to BDT 165 million (about Rs 14.33 crore). The paint maker said its shareholding in the subsidiary remains the same.
Kansai Nerolac Paints is a paint company which offers a range of products, including decorative, automotive coatings and performance coatings.
Shares of Kansai Nerolac rose 4.6% to Rs 634.50 on Friday.
Market gains 2% in a week on continuous FII support, progress on COVID vaccine
In the month of December 2020, FIIs bought equities worth Rs 48,223.94 crore and DIIs sold equities worth of Rs 37,293.53 crore. January 02, 2021 / 11:24 AM IST Benchmark indices ended the last week of the year 2020 with a gain of 2 percent on the back of positive cues including sustained FII inflows, progress on Covid vaccine, better GST collection, December auto sales numbers and a consistent declining Covid cases. Last week, BSE Sensex jumped 895.44 points or 1.90 percent to end at 47,868.98 and while the Nifty50 was up 269.25 points or 1.95 percent to finish at 14,018.50 levels. IN the year 2020, the Sensex rose 15.7 percent, while Nifty added 14.9 percent.
Kansai Nerolac Paints Limited makes further investment in Bangladesh arm
Posted On: 2021-01-01 00:47:01 (Time Zone: Arizona, USA)
Kansai Nerolac Paints Limited, has a subsidiary in Bangladesh by the name, Kansai Nerolac Paints (Bangladesh) Limited (formerly known as RAK Paints Limited), wherein the company holds 55% of paid-up share capital.
The Bangladesh subsidiary, Kansai Nerolac Paints (Bangladesh) Limited, has announced 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 165 million (~INR 14.33 crores). The percentage shareholding by the Company in the said subsidiary remains the same.
Kansai Nerolac Paints announced that its subsidiary in Bangladesh, Kansai Nerolac Paints (Bangladesh) has allotted the company 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 165 million (Rs 14.33 crore). The percentage shareholding by the Company in the said subsidiary remains the same at 55% of the paid-up share capital.
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