Aditya Birla Grp firm Grasim to invest Rs 5,000 cr to venture into paints biz
New Delhi: Aditya Birla Group company Grasim will enter paints business with an investment of Rs 5000 crore.
The money will be invested over the coming three years.
“The foray into paints is a strategic portfolio choice for Grasim. The company endeavours to invest in businesses that have the potential to be a leader in their addressable markets, have the ability to achieve scale and generate consistent and attractive returns in the long term. The paints industry presents a high-growth option for Grasim,” said Kumar Mangalam Birla, Chairman, Aditya Birla Group.
The group is looking for a bigger play in the real estate and construction sectors. It already has UltraTech which is a cement maker.