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JSW Group to foray into paints business with Rs 600 cr investment

Friday, 03 May 2019
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JSW Group is now entering the highly competitive and organised paints business with JSW Paints. The company which has been set up with an equity investment of Rs 250 crore from the promoter group will manufacture and market both industrial and decorative paints.

The company has been set up with an investment of Rs 600 crore, including Rs 350 crore debt from Axis Bank. JSW Paints offers a portfolio of 1,808 shades, all priced similarly at Rs 477 per ltr.

JSW Paints has set up 25,000 kilo ltr per annum coil coatings facility at Vasind in Maharashtra (for industrial paints) and 1,00,000 kilo ltr per annum plant in Vijayanagar in Karnataka.

The commercial launch will be from Karnataka, starting with Bengaluru and Hubbali, and the company aims to start business in a new major southern city every month.

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