“Most likely the demerger would be completed by December… We will list the paints company and the listing process is likely to be completed within this fiscal,” Agarwal said.
“With two separate companies, we will be able to focus more on our customers and in a better way. There will be separate teams to look after the businesses,” he said.
The company will be making an investment of Rs 200 crore for expanding the paints business, the CMD had earlier said.
Kamdhenu Paints has its manufacturing plant at Chopanki, in Rajasthan, where the company manufactures interior and exterior emulsions, colourants, designer paints, construction chemicals, waterproofing chemicals and other water-based speciality products.
It also outsources median and low-range products like distempers, enamel and putty from manufacturing units in Rajasthan, Uttar Pradesh, Haryana and Punjab.
Besides paints, the Gurugram-based Kamdhenu Group also has a presence in steel making.
The company, under the franchisee model, has TMT manufacturing plants in states like Odisha, Gujarat, Karnataka, Telangana, Andhra Pradesh, Bihar, Goa, Rajasthan, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Punjab, West Bengal, Jharkhand, and Madhya Pradesh, among others.
