Asian Paints has acquired 100% stake in Reno Chemicals Pharmaceuticals and Cosmetics (Reno), having its Registered Office at Santacruz East, Near Asian Paints, Mumbai. The company has acquired 4,950 equity shares of the face value of Rs 100 for an amount of Rs 159.52 crore.
This step has been taken by the company with an objective of using the land and building of Reno to meet its growing infrastructure requirements.
Asian Paints is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement.
