Indiabulls Group is venturing into LED lighting business in the country. This will be the business conglomerate’s first venture outside finance and services sector.
The new venture has been branded as ‘IB LED’, with formal launch expected in a couple of days. The formal launch follows an internal soft launch and a couple of customer installations as part of the soft launch.
“The group’s growth during the last 17 years has evolved around service business, but now it has decided to venture into product business. LED is the first move into the product business and we will initially cater to the B2B professional LED lighting needs in the country,” Partha Banik, President, IB LED, business told BusinessLine.
This means the company will initially target lighting requirements of commercial offices, building, shopping malls, warehouses, showrooms and infrastructure sectors, while IB LED will move to B2C segments later.