Kansai Nerolac Paints announced that its subsidiary in Sri Lanka, Kansai Paints Lanka has allotted 4,99,99,998 ordinary shares to the company while 3,33,33,332 ordinary shares have been allotted to Capital
Holdings, Sri Lanka.
The equity contribution of the company in the further issue of shares by the Sri Lankan subsidiary is about LKR 300 million (~ Rs 12 crore). The percentage shareholding by the company in the said subsidiary remains the same i.e. 60%.
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