Indiabulls Group to manufacture LED lights
Indiabulls Group, has ventured into the LED lighting business in B2B space. The new venture will be branded as “IB LED” and would be focusing on LED professional lighting for offices, malls, showrooms, factories, industries and housing societies.
The LED lighting business in B2B space is currently estimated to be at INR 6500 Crores market in India. Indiabulls aims to capture 2-3% share of this market in the first year of operation.
Speaking about the new venture, Partha Banik, President of IB LED business, said, “We aim to be amongst the top three LED lighting companies in the country in B2B space with innovative products, solution and creating best lighting experience for our customers. IB LED will be present across all major geographies in India.”
The company will be offering the LED products/solution at ZERO upfront cost and will be charging customers only the savings they generate from the electricity bill over the next 2 years after installation.