JSW Paints to acquire AkzoNobel India for ₹8,986 Crore

JSW Group-led JSW Paints Limited announced that it has signed a definitive agreement for acquisition of up to 74.76% stake in Akzo Nobel India Limited from Akzo Nobel N.V. and its affiliates for a maximum consideration under the Share Purchase Agreement of up to ₹8,986 Crore. The final price is subject to certain closing adjustments, announced the group in its filing with the bourses.

The acquisition is yet to receive approval from the Competition Commission of India and the completion of a mandatory tender offer (“Open Offer”) to the public shareholders of Akzo Nobel.

JSW Paints would shortly enter into final or definitive agreements for acquisition of the Dulux paints’ Indian arm. 

Earlier, it was reported that JSW Paints emerged as the front-runner in the most sought after transaction which also witnessed interest from a consortium of Advent International and Indigo Paints and Fevicol maker Pidilite Industries. 

After May 15, 2025 the Indian business house and MNC signed an agreement.

JSW Paints is among the fastest-growing paint companies and a part of the US $23 Billion JSW Group. 

Following this development, JSW Holdings gained as much as 1.5% in Friday’s trading session.

At around 10.51 AM, JSW Holdings was trading 1.06% higher at ₹21,465 per piece, against the previous close of ₹21,240 on NSE. The counter touched an intraday high of ₹22,220.

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