India's UltraTech Cement on Thursday launched its wires and cables business, Ultravolt, with a planned investment of 18 billion rupees ($190.5 million), marking the Aditya Birla Group's fourth new business foray in three years.
Ultravolt, which is preparing for a nationwide rollout across more than 100,000 retailers, aims to become India’s second-largest player in the wires segment within five years.
The company plans to set up a new manufacturing plant in Gujarat and leverage UltraTech’s distribution network to rapidly expand its wires and cables business, Director Dilip Gaur said.
Billionaire Kumar Mangalam Birla’s paints venture, Birla Opus, has disrupted India’s paint market since its launch in 2024 and captured a significant share from rival Asian Paints.
“In recent years, successful new business creation has itself become a core part of the Group’s DNA and an important source of differentiation for the group,” Birla said.
