Consumer products business, Crompton Greaves Consumer Electricals Limited (CGCEL) was today listed on the country’s premier exchanges â€“ BSE (Bombay Stock Exchange) and NSE (National Stock Exchange), post the requisite approvals. To mark the occasion, Shantanu Khosla, Managing Director, Crompton Greaves Consumer Electricals Ltd. rang the ceremonial bell at the listing ceremony held at the NSE today.
The consumer electricals business has significant potential for growth. To ensure we leverage this opportunity we will focus on: investing & building the Crompton brand, developing consumer meaningful innovation in core categories, investing in our go to market, leveraging systems along with the best in class processes to drive operational efficiencies and building organizational capabilities across the Company. The Company has recently launched its brand campaign and has made significant progress in other focus areas we well.
Speaking on the occasion, Shantanu Khosla, Managing Director, Compton Greaves Consumer Electricals Ltd., said, â€œWe are delighted at announcing the listing of our company on the BSE and NSE. This completes the demerger process and is a milestone for Crompton Greaves Consumer Electricals Ltd. The company and brand has a great heritage, strong brand equity and a highly capable employee base for which we are thankful to Crompton Greaves Ltd. Now the focus of CGCEL will be to build on this strong foundation and create strong value for all our stakeholders by driving growth. We are thankful to all of our investors, distributors and customers for their confidence and support and thank all of our employees for their diligence and hard work.â€
The ceremony started with the ceremonial lighting of the lamp by Shantanu Khosla and D Sundaram (Independent Director).
It was in early last year that Crompton Greaves announced that their consumer electricals unit will be demerged into a standalone company and would be listed with the BSE and the NSE.
The consumer products business demerged from Crompton Greaves into a separate company known as Crompton Greaves Consumer Electricals Ltd. (CGCEL).
The Consumer Products business is Indiaâ€™s market leader in fans, No. 1 player in residential pumps and has leading market positions in its other product categories. The business manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, mixer grinders, toasters, irons and electric lanterns. The consumer business has strong dealer base across the country and wide service network offering robust after sales service to its customers.