JSW Paints Makes Strategic Move with Akzo Nobel India Acquisition

JSW Paints has strategically announced an open offer to gain an additional 25.24% stake in Akzo Nobel India Ltd, following its recent deal to acquire a majority stake of 74.76% in the Dulux paint-maker for a staggering Rs 8,986 crore.

This move, detailed in a regulatory filing, includes an open offer for approximately 1.15 crore fully paid-up equity shares, each valued at Rs 10, from public shareholders at a premium price of Rs 3,417.77. Managed by Morgan Stanley India, the offer was publicized through a significant announcement shared by Akzo Nobel India Ltd on the stock exchanges.

The open offer, which accounts for up to 25.24% of Akzo Nobel India's voting share capital, marks a pivotal moment in JSW Paints' expansion efforts within the paint industry. Key dates include July 25, 2025, as the last date for competing offers, with the tendering period set to commence on August 20, 2025, and close on September 3, 2025.