TTK Prestige readies Rs 500-cr. war chest for acquisition
TTK Prestige is exploring the possibility of making two acquisitions, one in India and the other in the U.S. or Europe, as part of its market expansion strategy for which it has set aside ₹500 crore.
TTK Prestige chairman, T.T. Jagannathan told The Hindu that, “We are acquiring, to get into new markets and product segments. For instance, we are not yet in fans, water heaters, air-conditioners or something like that. All these products are classified under B2B, and a very small number of these are sold to homes. There are big guys in this market, we are a home-ware firm and we can’t organically venture into B2B. That’s why we are out to shop.’’