Akzo Nobel India Limited has informed the Exchange about Agreements
JSWDULUX · price
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Akzo Nobel India Limited has informed the stock exchanges that its two promoter entities — Imperial Chemical Industries Limited (holding 50.46%) and Akzo Nobel Coatings International B.V. (holding 24.30%) — have signed a Share Purchase Agreement (SPA) with JSW Paints Limited on 27 June 2025 to sell up to their entire combined stake of about 74.76%. The agreed price is ₹2,762.05 per share, subject to adjustments. After the deal and the mandatory open offer under SEBI's Takeover Regulations, JSW Paints may hold up to 75% of the company and will become the new sole promoter, resulting in a change of control. The transaction follows AkzoNobel N.V.'s October 2024 announcement of a portfolio review of its decorative paints business in South Asia. Completion needs Competition Commission of India approval and fulfilment of the open offer process.
This is a change-of-control transaction — public shareholders will get a chance to tender shares in the mandatory open offer at the SPA price of ₹2,762.05 per share, which will likely act as a price benchmark. The stock may trade near the offer price as the deal progresses, with regulatory approvals (CCI, SEBI) being the key milestones to watch.