The equity shares of Kamdhenu Ventures (Kamdhenu Paints) made its debut on the bourses on Tuesday by getting listed on both National Stock Exchange (NSE) & Bombay Stock Exchange (BSE). Kamdhenu Ventures is the demerged paints business arm of Kamdhenu. Under the scheme of demerger, the parent company, Kamdhenu Limited issued one equity share of Kamdhenu Ventures against every existing share held of Kamdhenu Limited.
The new business structure affirms the Group’s focused approach towards the paints business. The demerger will lead to operational flexibility and facilitate businesses to independently pursue their growth plans through organic & inorganic routes.
Kamdhenu Paints will continue to focus on the decorative paint industry, expanding its footprints in the emerging cities of India. The company aims to expand into smaller towns by identifying underserved markets by introducing innovative paint products.
Kamdhenu Paints has a wide range of decorative paint products that includes exterior & interior emulsions, acrylic distempers, water based & solvent primers, synthetic & GP enamel, wood finishes, aluminium paints, textured to designer finishes, strainers, P U Wood Finishes and Metallic Finishes.
Commenting on the occasion, Satish Kumar Agarwal, Chairman, Kamdhenu Group, said: “The listing of Kamdhenu Ventures (Kamdhenu Paints) marks the beginning of a new chapter in the company's history. The demerger activity will help streamline business initiatives of the group and create shareholder value.
With a wide presence and substantial network across India, the Company aims to strengthen its foothold in the paint industry. For FY22, paints revenue stood at Rs. 241 crore and is expected to reach a turnover of Rs. 1,000 crore in next five years on account of increased discretionary spend, urbanisation and positive macro tailwinds.
To enhance Pan India foothold, the company will be aggressively spending on advertising and promotions, focus on urban markets through institutional sales and enhanced sales penetration in the Southern market.
Also, I would like to thank all our stakeholders including employees and customers for their continued trust and support.”