Akzo Nobel India Limited has informed the Exchange about sale of shares by the erstwhile promoter.
JSWDULUX · price
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JSW Dulux Limited (formerly Akzo Nobel India Limited) has informed the exchange that the erstwhile promoter has sold shares of the company. The erstwhile promoter refers to Akzo Nobel, which previously held the promoter stake before the JSW group's acquisition and subsequent rebranding of the entity to JSW Dulux Limited. This sale likely represents Akzo Nobel divesting its remaining shareholding in the Indian subsidiary. The exact quantum of shares sold and the post-sale promoter holding details would be part of the detailed disclosure.
For shareholders, this is a routine disclosure about the former promoter exiting its remaining stake. It should not materially impact the stock price as JSW is now the controlling shareholder, and Akzo Nobel's exit was already anticipated following the change in control.