According to a top company representative, Kolkata-based Berger Paints India is making discussions to get hold of a specialty paint company.

On the sidelines of the company's annual general meeting (AGM), Chairman K. S. Dhingra said, "The board will discuss the offer... the deal is still at a preliminary stage and due-diligence is yet to start."

Mr. Dhingra said that the company has appointed consultant Ernst and Young for the contract.

However, he didn't reveal any additional details regarding the acquirement.

The paint company has decided to make an investment of Rs 250-300 crore by 2015 to double up its capacity to 500,000 tonne by establishing green-field and brown-field projects.

Company's managing director Subir Bose stated that Berger Paints would spend approx Rs 125 crore into setting up a greenfield paint facility in Andhra Pradesh, which would manufacture 150,000 tonne annually of water-based decorative paint.

The rest amount would be expended for capacity growth at Rishra plant in West Bengal by 60,000 tonne, at Jammu by 1,000 tonne and at Goa by 72,000 tonne.

For the quarter ended June 30, Berger Paints recorded a 30% growth in its PAT, which stood at Rs 37.02 crore as against the same period of last year.

The company registered a PAT worth Rs 28.38 crore during the same quarter last fiscal.