Asian Paints Limited has informed the Exchange about acquisition of balance 40% of the equity shares of Obgenix Software Private Limited (White Teak). Accordingly, the Company now holds 100% equity share capital of White Teak, by virtue of which White Teak has become a wholly owned subsidiary of the Company.
ASIANPAINT · price
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Asian Paints has acquired the remaining 40% equity stake in Obgenix Software Private Limited (branded 'White Teak'), a decorative and architectural lighting company, for a cash consideration of Rs. 188 crores. This follows earlier purchases of 49% in April 2022 and 11% in June 2023, completing the path to 100% ownership and making White Teak a wholly owned subsidiary. The move is part of Asian Paints' strategy to become a complete home décor solutions provider. White Teak reported turnover of Rs. 106.84 crores in FY25 but a loss of Rs. 45.09 crores with a negative net worth of Rs. 18.47 crores, indicating the subsidiary is currently unprofitable.
For shareholders, this is a small but strategic tuck-in acquisition — the Rs. 188 crore deal is modest relative to Asian Paints' overall size, but integrating a loss-making lighting brand into the home décor portfolio could pressure near-term margins even as it supports long-term category expansion. No open offer obligation is mentioned in the filing.