Kansai Nerolac to buy 68% stake in Nepalese paint maker

The investment shall be Rs 7.5 cr

Kansai Nerolac Paints today said it is in final stages of buying a majority stake in a Nepal-based paint company at an investment of Rs 7.55 crore. The company is in the process of finalising a 68% stake in Nepal Shalimar Pvt Ltd (NSPL), Kansai Nerolac Paints Ltd (KNPL) said in a filing to the BSE. "The investment to be made by Kansai Nerolac towards this proposed acquisition shall be Rs 7.55 crore," it added. Further, Kansai Nerolac Paints would be giving a loan of around Rs 6 crore to fund the working capital requirement of NSPL, it said. "With KNPL's entry in the ...