Kirloskar Electric Company has received an approval to raise funds by issuing equity shares through Qualified Institutions Placement (QIP) route for an amount up to Rs 75 crore. The board of directors at its meeting held on May 18, 2016 has received an approval for the same.
The board has also approved to increase the limit of holding by foreign entities in the company from 24% to 49%. The company has also received approval to increase the authorized capital of the company from Rs 90 crore to Rs 115 crore.
Kirloskar Electric Company is the manufacture, sales and services of diverse range of electrical and electronic equipment such as AC Induction Motors, AC Generators, DG Sets, DC Machines & Traction Equipment, Transformers, Switchgears, Control Equipments and Systems etc.
