JSW Paints launches open offer for Akzo Nobel India

JSW Paints, along with JTPM Metal Traders Private Limited and JSW EduInfra Private Limited, has announced an open offer to acquire up to 11,495,979 equity shares of Akzo Nobel India, representing 25.24% of the voting share capital. The offer price is set at INR 3,417.77 per share, payable in cash, potentially amounting to a total consideration of up to INR 39,290,612,147. This move follows JSW Paints entering into a share purchase agreement to acquire a 74.76% stake from existing promoters, Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V, subject to regulatory approvals, including clearance from the Competition Commission of India. Morgan Stanley India Company Private Limited is managing the offer. The tendering period is scheduled to commence on August 20, 2025, and close on September 3, 2025. JSW Paints intends to acquire sole control of Akzo Nobel India post-offer.