New Delhi, Sept. 3 -- India's UltraTech Cement on Thursday launched its wires and cables business, Ultravolt, with a planned investment of 18 billion rupees ($190.5 million), marking the Aditya Birla Group's fourth new business foray in three years.

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Ultravolt, which is preparing for a nationwide rollout across more than 100,000 retailers, aims to become India's second-largest player in the wires segment within five years.

The company plans to set up a new manufacturing plant in Gujarat and leverage UltraTech's distribution network to rapidly expand its wires and cables business, Director Dilip Gaur said.

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