Blue Star has agreed to acquire 15,10,00,000 equity shares of Rs 10 each at par aggregating to Rs 151 crore by way of subscribing to the rights issue of Blue Star Climatech (BSCL), the wholly owned subsidiary of the Company.
This investment is part of the Use of Proceeds as specified in Placement Document dated September 22, 2023 relating to QIP. This investment will help BSCL inter alia in repayment / pre-payment, of certain outstanding borrowings and financing the cost towards its expansion plans.
Blue Star is India’s leading central air-conditioning and commercial refrigeration company fulfilling the cooling requirements and providing end-to-end solutions as a manufacturer, contractor and after-sales service provider to corporate, commercial, institutional and residential customers.
