Sajjan Jindal-promoted JSW Group, which operates India’s second largest private sector steel company, is now entering the highly competitive organised paints business with JSW Paints. The company, set up with an equity investment of ₹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 ₹600 crore, including ₹350 crore debt from Axis Bank. JSW Paints offers a portfolio of 1,808 shades, all priced similarly at ₹477 a litre. Parth Jindal said the company is aiming for revenue of ₹600 crore in FY20, ₹1,200 crore in FY21, and ₹2,000 crore in FY22.

Source: Mint May 02, 2019 11:03 UTC