Ice Make forms JV with Japan's Galilei; INR 190 crore preferential issue
ICEMAKE · price
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Ice Make Refrigeration board approved a JV with Japan's Galilei Holdings for new arm 'Ice Make Horeca Private Limited'. Ice Make will hold 40 percent and Galilei 60 percent, with combined investment of about INR 88.19 crore. Galilei will also subscribe to 22,42,963 shares at INR 802.51 each (about INR 180 crore) via preferential issue to hold 12.36 percent stake. Total preferential issue covers 23,67,573 shares raising about INR 190 crore. EGM set for 19 August 2026.
Strategic international JV and capital infusion from partner Galilei boost growth plans; minority equity dilution of about 13 percent for existing shareholders.