Kirloskar Brothers has invested in preference shares of its subsidiary company ‘The Kolhapur Steel ‘and has been allotted 1,00,00,000 6% Cumulative Non-Convertible Redeemable Preference Shares of Rs 10 each, aggregating to Rs 10 crore only.
Kirloskar Brothers is engaged in manufacturing pumps. It is a part of $2.2 billion Kirloskar group and India’s largest manufacturer and exporter of pumps and valves.