Mr. Kumar Mangalam Birla and his family directly & indirectly hold ~43% shareholdings and are the sponsors of the Company. The balance shareholding is widely held by institutional investors and other public shareholders.

 Grasim is investing approximately US$1.2 billion across 6 new paints manufacturing plants, which will be implemented in a phased manner till FY25. IFC’s investment would be used to fund up to INR 12.50 billion (equivalent to approximately US$150 million) and the balance would be funded through equity raise and internal accruals.                             

The manufacturing units for the Project will be in India at the following locations: Ludhiana (Punjab), Panipat (Haryana), Cheyyar (Tamil Nadu), Chamarajnagar (Karnataka), Mahad (Maharashtra) and Kharagpur (West Bengal).                             

 No governance risks to development impacts have been identified.                                                  

This is a Category B project according to IFC's Policy on Environment and Social Sustainability (2012). Based on information reviewed by IFC, the proposed project will have limited adverse E&S impacts that are few, site specific, largely reversible, and readily addressed through existing mitigation measures and good international industry practices (GIIP). 

Key E&S issues and risks include: (a) corporate and plant level E&S management and monitoring systems to manage E&S risks from construction and operation of six new plants funded under the project; (b) management of labour & working conditions, workers engaged by third-parties, process safety management, occupational health safety (OHS) management, worker exposure to fugitive emissions, and worker’s accommodation; (c) resource efficiency measures; (d) monitoring and management of air emissions, wastewater and hazardous wastes; (e) emergency planning and response including life & fire safety; (f) hazardous material management practices including transport; (g) impacts on nearby community health and safety; and (h) the company's stakeholder engagement and community grievance mechanism.