Electrolux Kelvinator India plans to file on Monday its updated application for Rs 200 crore (Rs 2 billion) rights issue with the Securities and Exchange Board of India, chief executive officer Rajeev Karwal said in New Delhi.

Sebi had earlier returned the company's application for an issue of Rs 250 crore (Rs 2.50 billion); the issue proposes to increase the Swedish parent's stake in Indian operations to about 90 per cent from 74 per cent.

Karwal told reporters that the company was planning to finally have only one brand name, Electrolux, in India and would gradually phase out Electrolux Kelvinator brand from the market.

"At present, all our high-end refrigerators, fully automatic washing machines, and microwaves are already branded Electrolux. Only direct cool fridges and semi-automatic washing machines are being sold under the Electrolux Kelvinator brand name. This will eventually be phased out."

On the air conditioner front, he said the company was in the process of finalising contract manufacturer and should begin making ACs in India before the start of next summer season.

Asked about when the company planned to return to black, he declined to comment, but pointed out to the rights issue filing.