KOLKATA: Haier Group, China’s largest white goods maker, has infused Rs 775 crore into its Indian business in 2019, its highest ever in a single year.
The infusion came after the local subsidiary, Haier Appliances India, more than doubled its authorised share capital to Rs 4,000 crore from Rs 1,900 crore, as per the latest regulatory filings made with the Registrar of Companies (RoC).
Analysts said going by the trend more fund infusion is likely into the Indian unit next year.
Haier Appliances India’s president Eric Braganza told ET the money has been raised primarily for ‘Make in India’ initiatives, including the second manufacturing unit the company is setting up in Greater Noida.