Ice Make Refrigeration Ltd. Partners with Japan's Galilei Holdings for Strategic Investment and Joint Venture
Jul 29, 2026
New Delhi [India], July 29: Ice Make Refrigeration Limited signs definitive agreements with Galilei Holdings Co. Ltd (formerly known as Galilei Co. Ltd) ("Galilei"), a Japanese company listed on the Tokyo Stock Exchange, to raise funds of INR 1,800 million from Galilei through a preferential issue of equity shares from Galilei and INR 100 Million from other investors, and to enter into a joint venture agreement with Galilei through the establishment of a newly incorporated company in which Galilei will hold 60% shareholding and the Company will hold 40% shareholding. The joint venture company shall, inter-alia, undertake the business of manufacturing, distributing, marketing, selling, supplying, or otherwise dealing in: (a) commercial upright type refrigerators; (b) commercial table type refrigerators.