Techno Paints to Raise Rs 500 Cr Through IPO in FY27
Techno Paints and Chemicals is gearing up for an Initial Public Offering (IPO) slated to raise Rs 500 crore in the upcoming financial year. This strategic move is part of the company’s ambitious expansion plans.
Key Highlights of the IPO Initiative
– Target Amount: Techno Paints plans to raise Rs 500 crore through its IPO.
– Brand Ambassador Announcement: The company has appointed cricket legend Sachin Tendulkar as its brand ambassador for a three-year term, aimed at enhancing brand visibility across the nation.
– Executive Insight: We are honoured to collaborate with one of the world’s most iconic cricketers and a Bharat Ratna, Sachin Tendulkar. We look forward to achieving greater milestones this year with our expansion and the IPO. No one could be a better ambassador or growth partner for us, stated Akuri Srinivas Reddy, Chairman of Techno Paints and Chemicals.
Revenue Projections and Growth Plans
– Recent Performance: In the fiscal year 2024-25, the company reported revenue of Rs 210 crore.
– Expectation for FY26: Techno Paints anticipates revenue of Rs 450 crore in the current financial year.
– Long-Term Goal: The company aims to achieve a remarkable revenue target of Rs 2,000 crore by 2029-30.
Product and Market Expansion
– Diverse Product Range: Techno Paints specializes in decorative, industrial, and specialty paints, boasting over 3,000 shades in its decorative paint category.
– Current Market Presence: The company operates in several regions, including:
– Telangana
– Andhra Pradesh
– Karnataka
– Maharashtra
– Gujarat
– Delhi
– Odisha
– Chandigarh
– Planned Expansion: Techno Paints is set to expand into Himachal Pradesh, Tamil Nadu, Rajasthan, West Bengal, and Uttar Pradesh by the end of this year. Additionally, the company aims to enter the Middle Eastern market by 2026-27.
Conclusion
Techno Paints’ forthcoming IPO and its strategic partnership with Sachin Tendulkar are poised to strengthen its market presence and assist in its ambitious growth trajectory. With clear revenue goals and a commitment to expanding its product offerings, the company is on track to redefine its position in the Indian paint industry. Keep an eye on this exciting development as Techno Paints moves forward with its plans for expansion and growth.