Leading Indian monetary establishments commits USD 66 Mn to assist Simpolo Group in increasing
share and penetration in the quick rising luxurious and premium tiles market in India by new
investments in gross sales, providers and newest expertise manufacturing amenities
Mumbai, 01 September 2022: India Business Excellence Fund – IV, a fund managed and
suggested by MO Alternate Investment Advisors Private Limited (“MOPE”), together with India
SME Investments – Fund I and Motilal Oswal Finvest Limited have accomplished an funding
of USD 66 Mn in Simpolo Group, India’s largest luxurious and premium tiles producer.
Simpolo Group contains the flagship firm Simpolo Vitrified Private Limited and Nexion
International Private Limited.
Established in 2008, Simpolo Vitrified Private Limited is the market chief in the premium
tiles section in India, is promoted by first technology entrepreneur Jitendra Aghara and is
based mostly out of Morbi, Gujarat, one of many largest tiles manufacturing districts in the world.
Simpolo has a pan India presence with a strong community of 1,100+ sellers and exports to
over 50 nations. Established in 2015, Nexion International Pvt. Ltd. is a JV between
Simpolo promoters and the promoters and former house owners of Emilceramica SpA, an Italian
firm established in 1961 and one of many world leaders in the posh tiles section. On a
consolidated foundation, Simpolo and Nexion are the biggest participant in the high-end section of
the Indian tiles market, with revenues of ~USD 150 Mn in FY 2022.
Post completion of the transaction, the Group’s technique – to date so profitable – will stay
the identical. Simpolo and Nexion will proceed to function as unbiased entities; Simpolo is
the Brand of Choice in the Premium market and Nexion is the chief in the Indian luxurious
section.
The Group will use the monetary sources, entry to finest practices and the talents contributed
by MOPE to seize market share and develop penetration in India and overseas, enabled by
focused funding in gross sales, promoting & promotions, and to increase the present capability
in tiles and sanitaryware, enhance logistic and improve customer support. Simpolo
sanitaryware division will even increase into the taps sector.
Mr. Jitendra Aghara, Group CMD, Simpolo Group stated, “We are delighted to have MOPE as
our partners. Both organizations share the common vision to build one of the largest brands
in the building materials industry in India. Over the last 15 years, we have created a
differentiated presence in the premium tiles segment in India, and MOPE’s investment
underscores the strength of our brand premiumness, product quality and deep distribution
network. MOPE’s experience to create leaders in the manufacturing sector and the expertise
gained from their real estate fund will be instrumental in elevating Simpolo Group to one of
the leaders in the building materials industry in India.”
Mr. Vishal Tulsyan, MD and CEO of MOPE stated, “We are excited to again a passionate first-
technology entrepreneur like Jitubhai, who has constructed a robust administration crew together with
forging a robust partnership with Italian promoters, who’ve created the robust and
credible high-end model Nexion. Simpolo has all the proper elements to be probably the most helpful
tiles firm in India in the approaching years.”
Mr. Luca Majocchi, CEO of Nexion stated, “MOPE’s investment validates our thesis that India
will become one of the largest premium tiles markets in the world, the driving element
supporting our investment in the country. In 2015, we partnered with the Simpolo promoters
with the shared vision of creating an Italian company in India. Today, Nexion is beloved by
customers and architects alike due to the beauty and quality of its products, and this is
reflected in the growth we have demonstrated over the last 6 years. As India economy and
society continue to develop, we expect the luxury tiles market in India to grow
exponentially.”
Mr Prakash Bagla, Director of MOPE stated, “We believe that the luxury and premium tiles
segment in India is poised for rapid growth, as the share of high-end tiles will increase from
less than 10% today to 30-40% as seen in developed markets. Simpolo and Nexion, with their
focus on innovative designs, superior product quality, widespread dealer network and brand
positioning is well placed to capture this growth and become a leading building materials
player in India”.
Mr. Mitin Jain, Founder of India SME Investments stated, “Simpolo’s management team has
established a benchmark for providing world-class quality products at globally competitive
cost-economics, which reiterates the ‘India Shining’ story. We are glad to be a part of this
journey backing Jitubhai’s vision to become the most valuable company in this segment in
India.”
Motilal Oswal Investment Advisors has acted as an unique monetary advisor to the
Simpolo Group.
Wadia Ghandy & Co, AZB Partners and JSA Advocates & Solicitors had been the authorized advisors
to the transaction.
About Simpolo Vitrified Private Limited
Simpolo Vitrified, based in 2008, is likely one of the market leaders in the premium tiles section in
India. The Simpolo Group began in 1977, with the roof tile merchandise and entered by Simpolo
model in sanitaryware business in 1991. Simpolo now’s engaged in the business of designing,
manufacturing, supplying and distributing big selection of premium merchandise in tiles and sanitaryware
section. The firm provides its merchandise to builders, architects and residence house owners, each in India
and outdoors India by a community of over 1100 sellers with export to over 50 nations. Simpolo
has at all times been trade chief in introducing the most recent expertise in the Indian market with excessive
high quality requirements and has the best-in-class manufacturing amenities in Morbi, Gujarat. Company has
managed to create a robust model recall in the thoughts of customers.
