ICE Make Refrigeration Merger & Restructuring Worth ₹35.27 Cr
Ice Make Refrigeration invested ₹35.27 Crore for a 40% stake in its new joint venture, Ice Make Horeca Private Limited, to expand commercial refrigeration offerings.
Ice Make Refrigeration Limited has amended its Articles of Association to incorporate governance rights, investor protections, and terms from a Shareholders Agreement.
Ice Make Refrigeration Limited held an EGM on August 19, 2026. Shareholders approved a preferential issue of 23,67,573 equity shares and the creation of charges on assets.
Ice Make delivered strong 60.4% revenue growth but suffered severe margin contraction to 1.7% due to unpassed raw material costs and aggressive capacity investments.
Ice Make Refrigeration reported Q1 FY27 consolidated revenue of Rs 178.88 crore, a 60.4% YoY increase. The company also announced a proposed Rs 190 crore fundraise.
Ice Make Refrigeration re-appointed three Executive Directors for 36 months and appointed M. I. Prajapati & Associates LLP as Cost Auditor for the upcoming term.
Ice Make Refrigeration Limited will hold a board meeting on August 13, 2026, to consider the company's unaudited standalone and consolidated financial results for the quarter.