# Ice Make Refrigeration raises INR 1.9B and forms joint venture with Galilei Holdings

Ice Make Refrigeration Limited (ICEMAKE) signed definitive agreements with Galilei Holdings Co. Ltd to raise INR 1,900 million via preferential issue and form a joint venture (60% Galilei, 40% ICEMAKE) to manufacture commercial refrigerators.

- Type: Investment
- Announced: 2026-07-24
- Where: India
- Value: $23.0M (1.90B INR)
- Status: announced
- Products: commercial upright and table type refrigerators
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Ice Make Refrigeration Limited](https://endata.com/companies/39270.md)
- [Galilei Holdings Co. Ltd](https://endata.com/companies/93167.md) (investor)

## Sources

- [tradealone.com](https://tradealone.com/news/industrials/ice-make-refrigeration-icemake-fundraise-jv/), 2026-07-24: "The fund raise marks a significant step in advancing ICEMAKE’s long-term strategic growth vision."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.