ICE Make Refrigeration partners with Japan's Galilei Holdings to form a JV focused on commercial refrigeration, ice makers, and chillers.

The JV will see 88.19 Cr investment (Galilei 52.92 Cr, ICE Make 35.27 Cr). A 190 Cr preferential issue to Galilei and other non-promoters boosts funding and grants Galilei board rights.