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A Risk Looms for Akzo Investors
Mint Mumbai
|June 30, 2025
Akzo Nobel India Ltd, popular for its Dulux paint brand, is set to become an Indian company as JSW Paints has announced the acquisition of 74.76% stake from its Dutch owner.
This deal changes the pecking order of the Indian paints industry. JSW Paints becomes the fourth largest player by revenue after Asian Paints Ltd, Berger Paints India Ltd and Kansai Nerolac Paints Ltd.
So, what are the implications of the deal from the perspective of non-promoter—or public—shareholders of Akzo Nobel India?
JSW Paints has announced an open offer for the remaining 25.24% stake held by public shareholders at 3,417.77 per share. Akzo's shares closed 7% higher on Friday at 3,419. Now, even if a small portion of the open offer is subscribed, JSW Paints will end up having more than 75% stake as it will already be at 74.76% after the deal.
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