Morgan Stanley India Company Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Akzo Nobel India Ltd ("Target Company").
JSWDULUX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Morgan Stanley India, acting as Manager to the Offer, has submitted the Draft Letter of Offer (DLOF) to BSE for an open offer by JSW Paints Ltd (Acquirer) along with JTPM Metal Traders Pvt Ltd and JSW EduInfra Pvt Ltd (PACs) to public shareholders of Akzo Nobel India Ltd. The offer is for up to 1,14,95,979 equity shares, representing 25.24% of the voting share capital, at a price of INR 3,417.77 per share, aggregating up to INR 3,929.06 crore. The open offer is triggered by a Share Purchase Agreement (SPA) dated June 27, 2025, under which JSW Paints will acquire up to 74.76% stake from Imperial Chemical Industries Ltd and Akzo Nobel Coatings International B.V. for up to INR 9,403.21 crore. The tendering period is expected to run from August 20, 2025 to September 3, 2025, with payment expected by September 18, 2025.
This is a mandatory open offer under SEBI takeover regulations, giving public shareholders of Akzo Nobel India an opportunity to exit at INR 3,417.77 per share. The deal signals JSW Paints' entry into the listed decorative paints space through a large acquisition, which could impact Akzo Nobel India's stock price as the open offer price sets a near-term benchmark.