Kirloskar group companies to focus on consumer-centric businesses, adopt a new logo
The companies controlled by Atul and Rahul Kirloskar include Kirloskar Oil Engines, Kirloskar Chillers, Kirloskar Pneumatic, Kirloskar Ferrous Industries and
. As part of the plan, the group companies also adopted a new logo.
The plan entails “significant” investment in the group’s two consumer-facing businesses which are Arka Fincap, a non-bank financial company (NBFC) and Avante Spaces, a real-estate company, said Atul Kirsloskar, chairman of Kirloskar Oil Engines Ltd (KOEL). The investments will be funded through internal accruals.
“We are cash-rich and debt-free and to fund the investments we are going to monetise our asset base,” he said.
The NBFC is fully-owned by Kirloskar Oil Engines and set up with a seed capital of Rs 1,000 crore. It will focus on lending to the real-estate sector, MSMEs and wholesale lending.
