Promoters weigh IPO for Usha International
Usha International, a company with roots in pre-independence India, is exploring a public listing. Promoters, including Krishna Shriram, are considering this move. The company, incubated by Delhi Cloth and General Mills, aims to support its future growth and expansion plans. Details on the potential initial public offering's size and timing are not yet available.
New Delhi: Krishna Shriram and other promoters of Usha International are weighing a public listing of the consumer durables company that traces its origins to pre-independent India, a company executive said.
Usha International was incubated at one of India's oldest conglomerates, Delhi Cloth and General Mills (DCM). "The move is aimed at supporting the company's next phase of growth and expansion," said the executive, but did not provide details of the likely size or timing of its potential initial public offering.