IFB Industries has received approval from board of directors for investment of up to Rs 97 crore in equity issue of IFB Refrigeration (IRL) in one or more tranches. The Company keeps evaluating proposals for equity investment in diverse business as an alternative to investment in debt mutual funds. Refrigerator business being a necessity for every household looks promising. Further, IRL has an experienced project and manufacturing team in place.
Prior to the investment IFB Industries’ shareholding in IFB Refrigeration is nil. Post the investment, IFB Industries’ shareholding in IFB Refrigeration shall be intimated separately. In any eventuality, IFB Industries’ shareholding in IFB Refrigeration shall be below 50%.
IFB Industries is engaged in the business of manufacturing of diverse parts and accessories for motor vehicles etc. and manufacture and trading of Home Appliances Products.
| Company Name | CMP |
|---|---|
| LG Electronics India | 1578.40 |
| Dixon Technologies | 11374.00 |
| IFB Industries | 1116.00 |
| Honeywell Automation | 32808.35 |
| Elin Electronics | 119.75 |
| View more.. | |
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