Asian Paints India has informed the Bombay Stock Exchange that it has decided to set up a plant at Pondicherry, subject to necessary approvals and licences.
The proposed greenfield unit is to have a capacity of one lakh tonne per annum, and would be its largest.
The board has also approved the merger of Pentasia Investments, a wholly owned subsidiary, with itself. The proposed merger is subject to the approval of the shareholders of the company and requisite approvals.
Ashwin Dani, vice chairman & managing director, Asian Paints (India) said in a press release,
