Asian Paints acquires remaining stake in White Teak

Asian Paints announced today that it has acquired the balance 40% equity share capital of Obgenix Software Private Limited, known as White Teak, for a consideration of INR 188 crores. This acquisition brings Asian Paints' ownership of White Teak to 100%, making it a wholly-owned subsidiary. The initial acquisition of 49% occurred in April 2022, followed by an additional 11% in June 2023. White Teak, a decorative and architectural lighting products company, reported revenues of INR 106.84 crores in FY2024-25 and net worth as INR (18.47) crores. This move aligns with Asian Paints' strategy to expand into the complete home décor solutions market.