In a bid to increase its paints capacity to 78,000 litres per year from 42,000 litres a year now, Kamdhenu Ispat will invest Rs 150 crore, around Rs 50 crore each year, in its paints division over three years. The company intends to fund the proposed investment by raising up to Rs 75 crore from private equity fund, Rs 50 crore debt and the remaining Rs 25 crore from internal accruals.
Kamdhenu Ispat, which is mainly into manufacturing of TMT bars and structural steels for use in the construction sector, had forayed into the paints business in 2008 by setting up a plant near its steel mill at Bhiwadi in Rajasthan.
