Board approves 190 cr preferential issue to Japan Galilei and JV formation
ICEMAKE · price
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Ice Make Refrigeration board approved issuing 23,67,573 equity shares at INR 802.51 per share (about INR 190 crore total) to Japan based Galilei Holdings and two individuals as non promoter allottees. Galilei alone will get 22,42,963 shares for about 12.36 percent post issue stake. Board also approved forming a JV called Ice Make Horeca Private Limited where Ice Make holds 40 percent and Galilei holds 60 percent, with combined investment of about INR 88.19 crore. AOA amendments and special rights for Galilei need shareholder approval at EGM on August 19, 2026.
Strategic Japan partner brings capital and expertise; about 13 percent dilution, special rights granted to Galilei, new JV to expand Horeca segment.