Grasim Industries Raised Around $150 Million for Its New Business, Birla Opus

Grasim Industries is now focusing on the growth of its new business, Birla Opus. The company will focus on using environment-friendly processes to manufacture the paints. Grasim Industries is raising Rs. 1,250 Crores or $150 million through non-convertible debentures. Birla Opus will help the Aditya Birla group enter the growing paints and coatings market. Entering the paints business through Birla Opus, the company is already a leading player in diversified chemicals production.

Grasim Industry is a market leader in the development of several types of chemicals. Its recent business, Birla Opus, will work on providing details about the manufacturing of paints that help achieve a low-carbon economy. Grasim Industries recently received Rs. 1,250 Crore funding from the International Finance Corporation. The following are details about Birla Opus’ unique working style.

Birla Opus will use environmentally friendly methods for paint manufacturing. The company understands the importance of forming a low-carbon economy. Thus, it will use renewable energy and water recycling techniques to manufacture paints. As per the details, IFC will be the major player contributing to sustainable manufacturing.

Sherwin-Williams is said to be the world’s largest paint manufacturer. At the same time, Asian Paints is the largest in India. The company wants to acquire a second position in paint manufacturing in India in the next three years. It will be possible after the company superseded Berger Paints, India’s second-largest paint manufacturer.

Birla Opus can produce around 1.33 million litres of paint in a year. Thus, to accomplish its mission, it must produce 3.99 million litres of paint in three years. Birla Opus will use around six manufacturing units to produce these paints. The company aims to generate Rs. 10,000 crore in revenue in the next three years.

This strategy by Birla Opus will help accomplish the country’s goal of going carbon-free in the coming decades. Birla Opus recently started and aimed high in the paint industry, which is a competitive industry with many challenges. However, Birla Opus’s parent company will use a different approach. Following this approach, they will also fulfil their social responsibility, as we know that temperatures are rising unexpectedly. It is high time that such alternatives were adopted. Else, the rise in temperatures can create environmental issues that can lead to the evolution and the creation of deadly diseases like coronavirus. Thus, the individual initiatives will help the world become a better place to live.