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.

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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 equitycontribution 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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Kansai Nerolac Paints will hold a meeting of the Board of Directors of the Company on 1 February 2021.

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Kansai Nerolac Paints will hold a meeting of the Board of Directors of the Company on 1 February 2021.

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