JSW Paints open offer for 25.2% in Akzo Nobel at INR3417.77 per share

JSW Paints open offer for 25.2% in Akzo Nobel at INR3417.77 per share

JSW Paints, a subsidiary of the JSW Group, has announced an open offer to acquire an additional 25.2% stake in Akzo Nobel India, the Indian arm of Akzo Nobel NV, at a price of ₹3,417.77 per share. This follows JSW Paints' earlier acquisition of a 74.76% controlling stake in Akzo Nobel India for ₹8,986 crore [3].

The open offer, subject to regulatory approvals from the Competition Commission of India (CCI), is part of JSW Paints' strategy to consolidate its position in the Indian paints market. The acquisition of Akzo Nobel India, which includes premium brands like Dulux, Sikkens, and International, positions JSW Paints as a significant player in both decorative and industrial paints [3].

The open offer price of ₹3,417.77 per share represents a discount of around 7% compared to the closing price of ₹3,651 on Wednesday, July 1, 2025 [1]. The offer price is also lower than the average analyst target price for Akzo Nobel shares, which stands at ₹3,670 [1].

The acquisition of Akzo Nobel India is expected to be completed by Q4 2025, following regulatory approvals. The deal is part of JSW Paints' broader ambition to build "the paint company of the future" by integrating global brands and expanding local capacity [3].

References:
[1] https://economictimes.indiatimes.com/markets/stocks/news/akzo-nobel-shares-in-focus-after-asian-paints-offloads-entire-stake-for-rs-734-crore-via-bulk-deal/articleshow/122354473.cms
[2] https://www.marketscreener.com/quote/stock/ASIAN-PAINTS-LIMITED-13891348/news/Asian-Paints-sells-entire-stake-in-Akzo-Nobel-India-50468879/
[3] https://infoexchange.live/business/jsw-paints-acquires-dulux-maker-akzo-nobel-india-for-rs9000-crore-dramatically-reshaping-the-rs90000-crore-domestic-paints-market