Akzo Nobel India independent directors back JSW Paints open offer

Akzo Nobel India’s Committee of Independent Directors (IDC) has unanimously recommended the open offer by JSW Paints Limited, alongside JTPM Metal Traders Private Limited and JSW EduInfra Private Limited (collectively “PACs”). The offer seeks to acquire up to 1,18,40,482 fully paid-up equity shares at INR 3,231.77 per share, totaling approximately INR 29,97,11,18,266.54. This represents 26.00% of Akzo Nobel India's voting share capital.

The IDC deemed the offer price fair and reasonable, aligning with SEBI (SAST) Regulations. Their decision considered the highest negotiated price per equity share under the Share Purchase Agreement (SPA) of INR 2,762.05, and the volume-weighted average market price of INR 3,231.77 per equity share over sixty trading days preceding the public announcement, after permissible adjustments.

The recommendation was approved at a meeting held on October 15, 2025. Akzo Nobel India shareholders are advised to independently evaluate the offer, including the offer price and market performance, and to seek expert tax opinion.