Akzo Nobel India open offer sees low shareholder acceptance

Morgan Stanley India Company Private Limited announced the conclusion of the open offer by JSW Paints Limited, JTPM Metal Traders Limited, and JSW Eduinfra Private Limited for Akzo Nobel India Limited. The offer price was INR 3,231.77 per equity share.

The offer sought to acquire up to 11,840,482 equity shares, representing 26.00% of voting capital, but only 201,428 shares were tendered and accepted. This represents a mere 0.44% of the voting share capital, significantly below the proposed aggregate tender of 9,273,902 shares. The total value of accepted shares amounted to INR 65,09,68,967.56.

Despite the lower acceptance, JSW Paints Limited maintains a post-offer shareholding of 3,19,68,748 shares (70.20%). The offer period ran from October 23, 2025, to November 6, 2025, with consideration paid on November 12, 2025.