Techno Paints and Chemicals is planning to raise ₹500 crore through an initial public offering in the next financial year, according to company sources speaking on Saturday.
The development comes as the paint manufacturer appointed Sachin Tendulkar as its brand ambassador for a period of three years, a move the company believes will support its expansion across India.
Announcing the association in a press release, Techno Paints said the addition of the former Indian cricketer, popularly known as the Master Blaster, is expected to strengthen the brand’s national presence.
Akuri Srinivas Reddy, chairman of Techno Paints and Chemicals, reportedly said the company was honoured to collaborate with Tendulkar and looked forward to achieving “bigger and greater things” through expansion and the proposed IPO, as quoted in a news report.
Expansion plans and revenue targets
The company reported revenue of ₹210 crore in 2024–25 and expects this to rise to ₹450 crore in the current financial year, Reddy reportedly said. It is targeting revenue of ₹2,000 crore by 2029–30.
Techno Paints manufactures decorative, industrial and speciality paints, offering more than 3,000 shades in its decorative segment. At present, the company operates across Telangana, Andhra Pradesh, Karnataka, Maharashtra, Gujarat, Delhi, Odisha and Chandigarh.
According to the release, the paint maker plans to expand into Himachal Pradesh, Tamil Nadu, Rajasthan, West Bengal and Uttar Pradesh by the end of the year. It is also eyeing entry into the Middle East in 2026–27.
Earlier in 2023, the company had appointed film actor Mahesh Babu as its brand ambassador for a two-year period.
