In a significant move within the Indian paint industry, JSW Paints is set to acquire a majority stake in Akzo Nobel India in a deal valued at ₹9,403 crore. The announcement on Friday, June 27, 2025, sent Akzo Nobel India's share price soaring, reflecting positive market sentiment towards the acquisition.

The deal involves JSW Paints acquiring a 75% stake in Akzo Nobel India, marking a major shift in ownership. Specifically, JSW Paints will take over the entire shareholding of Akzo Nobel India's promoter entities, Imperial Chemical Industries Limited, and Akzo Nobel Coatings International B.V., who hold 50.46% and 24.30% of the company's shares, respectively. The transaction is priced at ₹2762.05 per share.

This strategic acquisition positions JSW Paints as a major player in the Indian paint market, potentially making it the fourth-largest paint manufacturer in the country. The move allows JSW Paints to compete more effectively in the $9 billion market, challenging established giants like Asian Paints. The company outbid several other contenders, including Indigo Paints, Advent International, and Pidilite Industries, to secure the deal.

Following the acquisition, JSW Paints will be required to make an open offer to minority shareholders, in compliance with the Securities and Exchange Board of India (SEBI) regulations. This open offer will allow minority shareholders to sell their shares to JSW Paints, potentially further increasing JSW's stake in Akzo Nobel India.

Akzo Nobel India currently holds approximately 7% of the Indian paint market. The acquisition by JSW Paints is expected to consolidate JSW's position and leverage Akzo Nobel's established brand presence, including the popular Dulux range of paints.

The Indian paint industry is anticipated to experience substantial growth, making this acquisition a timely strategic move for JSW Paints. By integrating Akzo Nobel India's operations, JSW Paints aims to enhance its product portfolio, expand its market reach, and capitalize on the increasing demand for paints and coatings in the country.