Grindwell Norton Limited
Invesco Mutual Fund took a new position in Grindwell Norton, acquiring 12,72,925 shares, representing a 1.15% stake in the company. The investment is valued at ₹258.98 crore based on the share price of ₹2034.30.
A diversified manufacturer, Grindwell Norton produces abrasives, ceramics, and plastics for industrial applications across India and international markets. The company supplies grinding wheels, bonded abrasives, and ceramic products to manufacturing, construction, and automotive sectors. Beyond manufacturing, it provides IT services, establishing itself as a vertically integrated player spanning production, materials science, and technology domains.
Indian subsidiary of Invesco Ltd, a US-listed global investment manager with over USD 1.8 trillion in AUM worldwide. Manages over Rs 1.2 lakh crore in India. Known for its Invesco India Contra Fund, which runs a contrarian, undervalued stock strategy against consensus market positioning. One of the few global AMC franchises maintaining a strong active equity presence in India.