Electrolux Kelvinator Ltd is issuing preferential equity capital worth Rs 150 crore to its parent company AB Electrolux.
A decision to this regard was taken at an extraordinary general meeting of the company held last week.
This is in addition to the proposed Rs 200 crore rights issue by the parent company. The rights issue, which is expected to hit the market early next year, is awaiting clearance from the Securities and Exchange Board of India (Sebi).
In September, the company had also made a one-time voluntary subvention grant of Rs 50 crore to the Indian company to meet a part of its revenue expenditure and to improve its liquidity position.
