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Today Date : Monday, May 27, 2024

Motilal Oswal Group to  invest in Simpolo Group

Motilal Oswal Group to invest in Simpolo Group

India Business Excellence Fund – IV, a fund managed and advised by MO Alternate Investment Advisors Private Limited (“MOPE”), along with India SME Investments -Fund I and Motilal Oswal Finvest Limited have completed an investment ofUSD 66 Mn in Simpolo Group, India’s largest luxury and premium tiles manufacturer.

Simpolo Group includes the flagship company Simpolo Vitrified Private Limited and Nexion International Private Limited. According to an official communication post completion of the transaction, Simpolo and Nexion will continue to operate as independent entities, with Simpolo being the brand of choice in the premium market and Nexion the leader in the Indian luxury segment.

The Group will use the financial resources, access to best practices and the skills contributed by MOPE to capture market share and grow penetration in India and abroad, enabled by targeted investment in sales, advertising & promotions, and to expand the current capacity in tiles and sanitaryware, improve logistic and enhance customer service. Simpolo sanitaryware division will also expand into the faucets sector.Mr. Jitendra Aghara,SimpolaGroup CMD said, “MOPE’s experience to create leaders in the manufacturing sector and the expertise gained from their real estate fund will be instrumental in elevating Simpolo Group to one of the leaders in the building materials industry in India.”