Akzo Nobel India Limited has informed the Exchange regarding Board meeting held on Jun 27, 2025.
JSWDULUX · price
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JSW Paints Limited has signed a Share Purchase Agreement (SPA) on June 27, 2025, to acquire up to the entire 74.76% promoter stake in Akzo Nobel India Limited (maker of Dulux paints in India) from its two selling entities — Imperial Chemical Industries Ltd (50.46%) and Akzo Nobel Coatings International B.V. (24.30%). The agreed share purchase price is INR 2,762.05 per share. As the deal crosses the SEBI Takeover Code threshold, JSW will launch a mandatory open offer for additional shares from public shareholders, after which it may hold up to 75% of the company. The transaction will result in a change of control, with JSW becoming the sole promoter and Akzo Nobel N.V. entities being reclassified as 'public'. Closing is subject to Competition Commission of India approval, completion of the open offer, and other customary conditions.
This is a landmark consolidation in India's decorative paints market — JSW Paints will become a major challenger to Asian Paints and Berger by adding the iconic Dulux brand. Public shareholders of Akzo Nobel India get a clear floor price (INR 2,762.05) to tender in the open offer or hold for potential upside from synergy benefits. Expect sharp price action and high trading volumes in Akzo Nobel India stock in the near term.