Sheenlac Paints JV with Jenson & Nicholson
Paint manufacturer Sheenlac Ltd has formed a joint venture (JV) with another paint maker Jenson and Nicholson. Sheenlac Paints will hold a 49 per cent stake in the newly-formed entity — Jenson and Nicholson Paints Pvt Ltd — while Jenson and Nicholson will hold the majority 51 per cent stake. The two companies pooled in Rs 10 crore to set up the venture in the initial phase. The JV has set a target revenue of Rs 100 crore for next year.