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Tata Capital acquires stake in Pluss Polymers (3-12-2012)
Tata Capital Innovations Fund, VC firm headed by Tata Capital, invested Rs 15 Cr in specialized polymer maker Pluss Polymers Pvt. Ltd. through equity infusion.
The company is in the business of R&D and manufacture of specialized polymers and phase change materials (PCM) and the funds will be utilized to enhance R&D and manufacturing initiatives.
The firmís product finds application in white goods, auto and plastic film industries by enhancing the properties of polymer compounds. PCMs are used for thermal energy storage and serve to balance and maintain heating/cooling load requirements. It now plans to tap the international market along with capacity expansion and heading into new geographies.
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