Aditya Birla Group’s Grasim to enter paints business with Rs 5,000 crore investment
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Synopsis
“The foray into paints is a strategic portfolio choice for Grasim as it looks to identify new growth engines,” said Kumar Mangalam Birla, Chairman, Aditya Birla Group in a media statement on Friday.
"The Company will be looking 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," Kumar Mangalam Birla, Chairman, Aditya Birla Group said.
Grasim Industries to foray into the paints business with an initial capital expenditure of Rs 5,000 crore over the next 3 years. The Company believes that this sector is likely to be value accretive to its stakeholders.