JSW Paints launches open offer for Akzo Nobel India stake

JSW Paints Limited, in concert with JTPM Metal Traders Limited and JSW EduInfra Private Limited, has launched a cash open offer to acquire up to 11,840,482 equity shares of Akzo Nobel India Limited, representing 26.00% of the voting share capital. The offer price is INR 3,231.77 per equity share, totaling a maximum consideration of up to INR 29,97,11,18,266.54. The open offer period commences on October 23, 2025, and closes on November 6, 2025.

This acquisition is a mandatory open offer following JSW Paints' agreement to acquire 74.76% of Akzo Nobel India's voting share capital from existing sellers for up to INR 9,403.21 crore. The transaction aims to provide JSW Paints with sole control over Akzo Nobel India, leveraging synergies and expanding its business in the paints and coatings sector. The offer is not conditional upon any minimum level of acceptance, and the required statutory approval from the Competition Commission of India was received on September 16, 2025.