HYDERABAD, Jan 10: Techno Paints and Chemicals is planning to raise Rs 500 crore through an IPO in the next financial year, company sources said on Saturday.
Sachin Tendulkar has been appointed as the brand ambassador of the paint manufacturer for three years, a move expected to help the company expand across the country.
With the addition of the ‘Master Blaster’, the paint maker said in a press release, the brand aims to strengthen its national presence.
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“We are honoured to collaborate with one of the world’s most iconic cricketers and a Bharat Ratna, Sachin Tendulkar. We are looking forward to achieving bigger and greater things this year with expansion and the IPO, and no one could have been a better ambassador or growth partner for us,” said Akuri Srinivas Reddy, Chairman of Techno Paints and Chemicals.
Earlier in 2023, the company had announced the appointment of film actor Mahesh Babu as its brand ambassador. He served in that role for a period of two years.
The company earned revenue of Rs 210 crore in 2024-25 and is expecting Rs 450 crore in the current financial year, Reddy said, adding that it is targeting revenue of Rs 2,000 crore by 2029-30.
Techno Paints manufactures decorative, industrial, and speciality paints, offering over 3,000 shades of decorative paints. The company is currently operating in Telangana, Andhra Pradesh, Karnataka, Maharashtra, Gujarat, Delhi, Odisha, and Chandigarh.
It plans to expand to Himachal Pradesh, Tamil Nadu, Rajasthan, West Bengal, and Uttar Pradesh by the end of this year, and to the Middle East in 2026-27, the release added. (PTI)
