Ice Make Refrigeration Ltd has said it has entered into definitive agreements with Galilei Holdings Co. Ltd., a Japanese company listed on the Tokyo Stock Exchange, for a strategic investment and a joint venture aimed at accelerating the company's long-term growth strategy.
According to a statement by the company, Galilei will invest Rs 180 crore through a preferential issue of equity shares, while Ice Make will also raise Rs 10 crore from other investors through a preferential issue. The transaction is subject to shareholder approval, in-principle approvals from the stock exchanges, and customary closing conditions.
