Shares of Akzo Nobel India surged as much as 11% to its fresh intraday high of ₹3,540 on the National Stock Exchange on June 27, today, after the JSW deal. The promoters of Akzo Nobel India have agreed to sell their entire stake in the company to JSW Paints.
Imperial Chemical Industries and Akzo Nobel Coatings International B.V., the two promoters of Akzo Nobel India, have signed the share purchase agreement with JSW Paints to sell their 74.8% stake in the company. Currently, Imperial Chemical holds 50.5% stake, while Akzo Nobel Coatings holds 24.3% stake in Akzo Nobel India.
The deal has been announced at a price of ₹2,762.05 per share, which is at an over 13% discount to Akzo Nobel's closing price on Thursday. This takes the total transaction value to ₹9,403 crore. Post the proposed transaction, JSW Paints will be required to make an open offer in accordance with SEBI’s regulation, the company said in an exchange filing on June 27.
Akzo Nobel India is one of India’s decorative and industrial paints players and part of Netherlands-headquartered Akzo Nobel, a global leader in decorative paints and industrial coatings.
JSW Paints MD Parth Jindal had earlier said that the Akzo Nobel India business sale is an “exciting opportunity”. “There is no choice...I have to give everything I’ve got for Akzo Nobel India,” Parth Jindal had said in January 2025.
Akzo Nobel had reported a marginal decline in consolidated net profit at ₹108.4 crore in the fourth quarter of FY25. The company had posted a consolidated net profit of ₹108.7 crore in the same quarter a year ago. Its consolidated revenue for the March quarter stood ₹ 1,022.1 crore as compared to ₹973.4 crore in the year-ago period.
For FY25, the company’s consolidated net profit was ₹429.5 crore, while its revenue from operations was ₹4,091.2 crore.
