DCM Shriram’s arm Fenesta buys 53% stake in DNV Global for Rs 44 crore

The Fenesta division of the DCM Shriram group, specializing in uPVC and aluminum windows and doors, has purchased a 53 percent equity stake in DNV Global for Rs 44 crore to grow its operations.

“This strategic investment marks a significant step in Fenesta’s vision to enhance customer experience, deepen vertical integration, enhance product reliability, achieve accelerated growth in scale and unlock operational synergies across its supply chain,” DCM Shriram said in a statement on Sunday.

The overall acquisition expense amounts to Rs 44 crore, consisting of Rs 31 crore from subscribing to new equity share capital of DNV Global and Rs 13 crore from buying equity shares from current promoters/shareholders.

Saket Jain, Business Head, Fenesta Building Systems, said, “The acquisition …is a natural extension of our long-term growth strategy. Hardware plays a critical role in defining both the performance and user experience of our window and door systems.” “With this move, we not only deepen our supply chain capabilities but also gain the agility to innovate and expand our hardware offerings across new home improvement segments,” he added.

This integration will enhance Fenesta’s capacity to provide smarter, more durable products and comprehensive solutions, he stated. Fenesta, a part of DCM Shriram Ltd, is a prominent brand specializing in uPVC and aluminium windows and doors, solid panel doors, and facades.

Founded in 2013, DNV Global reported a turnover of Rs 60 crore in the previous fiscal year. DCM Shriram is involved in the sugar, fertilizers, and chemicals sectors in addition to Fenesta.