ASTRAL Ltd to acquire controlling stake in GEM Paints Pvt Ltd

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As part of ASTRAL Ltd’s strategy to expand its product portfolio under building material segment and strengthen the brand ASTRAL and its Dealer’s & Distributors Network, the Board of Directors of ASTRAL has today entered into definitive agreements for acquiring controlling 51% equity stake in operating business of GEM PAINTS PRIVATE LIMITED.

GEM PAINTS was founded in 1980, and has been manufacturing high performance Industrial and Decorative coatings in South India. The company has been consistently performing well, with more than 3000+ dealers and 10 Depots spread across all the states of South India.

GEM PAINTS enjoy its competitive edge which is derived from its resin manufacturing capabilities and in-house R&D division. The product quality has always been at the spearhead of the company’s policy since its inception.

GEM PAINTS has wide range of diverse portfolio of 28+ brands and 100+SKUs spanning across various price points.

GEM PAINTS has spread out by recently setting up a state of art plant at Nelamangala (Karnataka) admeasuring 160,000 Sq. Ft. and has an Annual Capacity of 36,000 K.L. (Post Expansion of Phase II – 60,000 K.L.)

GEM PAINTS adhere to its highest quality standards with compliance to all required regulations around lead content and VOC.