KANSAI NEROLAC PAINTS LTD. - Further Investment In Kansai Nerolac Paints (Bangladesh) Limited, Bangladesh Subsidiary

Our Company, Kansai Nerolac Paints Limited, has a subsidiary in Bangladesh by the name, Kansai Nerolac Paints (Bangladesh) Limited (formerly known as RAK Paints Limited), wherein our Company holds 55% of paid-up share capital. We have been informed today by the Bangladesh subsidiary, Kansai Nerolac Paints (Bangladesh) Limited, that in a further issue of shares by the subsidiary, our Company has been allotted 1,65,00,000 equity shares of the face value of BDT 10 per share. The equity contribution of our Company in the further issue of shares by the Bangladesh subsidiary is BDT 16.50 crores (~INR 13.90 crores). The percentage shareholding by our Company in the said subsidiary remains the same i.e. 55% of the paid-up share capital.