Kansai Nerolac Paints Limited makes further investment in Bangladesh arm Posted On: 2021-01-01 00:47:01 (Time Zone: Arizona, USA) Kansai Nerolac Paints Limited, has a subsidiary in Bangladesh by the name, Kansai Nerolac Paints (Bangladesh) Limited (formerly known as RAK Paints Limited), wherein the company holds 55% of paid-up share capital. The Bangladesh subsidiary, Kansai Nerolac Paints (Bangladesh) Limited, has announced that in a further issue of shares by the subsidiary, the company has been allotted 1,65,00,000 equity shares of the face value of BDT 10 per share. The equity contribution of the company in the further issue of shares by the Bangladesh subsidiary is BDT 165 million (~INR 14.33 crores). The percentage shareholding by the Company in the said subsidiary remains the same.