JSW Paints has signed an agreement to acquire a 74.76% stake in Akzo Nobel India for up to ₹8,986 Crore, pending regulatory approval.

Target Information

JSW Paints Limited, a subsidiary of the prominent JSW Group, has reached a definitive agreement to acquire a significant 74.76% stake in Akzo Nobel India Limited. This acquisition is from Akzo Nobel N.V. and its affiliates, with a total consideration amounting to ₹8,986 Crore, subject to specific closing adjustments as disclosed in the company's official filing. The transaction is currently pending approval from the Competition Commission of India, alongside the completion of a mandatory tender offer for the public shareholders of Akzo Nobel.

JSW Paints is recognized as one of the fastest-growing paint companies in India and has established itself as a key player in the industry, aligning with the broader aspirations of the US $23 Billion JSW Group. The company aims to strengthen its market position and expand its footprint in the decorative paint sector through this strategic acquisition.

Industry Overview in India

The Indian paint industry has witnessed substantial growth over the past few years, driven by rising urbanization, increasing disposable income, and a growing demand for high-quality decorative