JSW Paints to Acquire 74.76% Stake in Akzo Nobel India for Rs 8,986 Crore Including Dulux Brand

JSW Paints, led by Parth Jindal and part of the JSW Group, has agreed to acquire a majority stake of up to 74.76% in Akzo Nobel India from Akzo Nobel N.V. and its affiliates. The deal, valued at approximately Rs 8,986 crore (around $1.6 billion or 1.4 billion euros), marks the Dutch paint maker's exit from the Indian market. The acquisition price was set at Rs 2,762.05 per share, representing a 16% discount to the closing market price.

Following the transaction, JSW Paints will initiate an open offer for the remaining 25.24% shares at Rs 3,417.77 per share, totaling up to Rs 3,930 crore. This move significantly consolidates JSW Paints' position in the Indian decorative paints sector, increasing its market share to nearly 10%. The deal is among the largest corporate transactions in India’s paint industry in 2025 and is expected to intensify competition in the approximately $9-10 billion Indian paint market. Akzo Nobel India shares surged between 6% and 10% on the announcement, reflecting investor optimism. The acquisition brings iconic brands such as Dulux under JSW Paints’ control and is seen as a strategic expansion for JSW in the growing Indian paints sector.