Techno Paints and Chemicals, a manufacturer of paints based in Hyderabad, is aiming to raise Rs 500 crore through an initial public offering (IPO) by the fiscal year 2026-27, as stated by its chairman and managing director, Akuri Srinivas Reddy, on Saturday.
He mentioned that the company plans to submit its draft red herring prospectus (DRHP) to the capital markets regulator, the Securities & Exchange Board of India (Sebi), in 2026-27 and anticipates completing the IPO within the same financial year.
The company has enlisted Master Blaster Sachin Tendulkar as its brand ambassador for a three-year term and is also looking to expand its presence across the nation from the current eight states, he noted, adding that there are plans to enter the Middle East market in 2026-27.
Currently, it operates in Telangana, Andhra Pradesh, Karnataka, Maharashtra, Gujarat, Delhi, Odisha, and Chandigarh, with intentions to extend to Himachal Pradesh, Tamil Nadu, Rajasthan, West Bengal, and Uttar Pradesh by the end of this year.
The company, which achieved revenues of Rs 210 crore in 2024-25, expects to reach a turnover of Rs 450 crore in the current fiscal year and aims for Rs 2000 crore by 2029-30, he further stated. “The Indian paint industry, valued at approximately Rs 90,000 crore, is experiencing growth at a rate of 5-9% annually.
The global per capita paint consumption is 15 litres per year, while in India it stands at 4.5 litres, indicating significant potential,” Reddy remarked. Techno Paints, which produces decorative, industrial, and specialty paints, operates its research and development center in Hyderabad and has its manufacturing facility located at Pashamylaram on the outskirts of Hyderabad.
