JSW Paints takes controlling stake in Akzo Nobel India

JSW Paints Limited has announced the acquisition of 2,76,70,295 equity shares of Akzo Nobel India Limited from Imperial Chemical Industries Limited and Akzo Nobel Coatings International B.V. The acquisition, completed on December 10, 2025, represents 60.76% of Akzo Nobel India Limited's voting share capital. This transaction follows a share purchase agreement dated June 27, 2025.

Prior to this major acquisition, JSW Paints Limited held 2,01,428 equity shares, or 0.44% of the voting rights, acquired through an open offer on November 12, 2025. With the latest acquisition, JSW Paints Limited's total holding in Akzo Nobel India Limited has reached 2,78,71,723 equity shares, constituting 61.2% of the voting share capital.

As a result of these acquisitions, JSW Paints Limited has gained sole control over Akzo Nobel India Limited and is now classified as a promoter of the target company. Akzo Nobel India Limited's total equity share capital remains 4,55,40,314 equity shares of INR 10/- each, amounting to INR 45,54,03,140/-.