JSW Paints Seizes Major Market Share with Akzo Nobel India Acquisition

JSW Paints is set to significantly boost its market presence in the decorative and industrial coating sectors following its acquisition of a controlling stake in Akzo Nobel India Ltd. This strategic move will position JSW Paints as the fourth-largest player in the Indian paint industry, advancing their ambition to be among the top three.

In a landmark business maneuver, JSW Paints has acquired a 74.76% stake in Akzo Nobel India Ltd, makers of the renowned Dulux brand, for Rs 8,986 crore. Supported by a strategic investment of Rs 13,000 crore, partially funded by internal accruals and private equity, JSW Paints is poised to reshape the competitive dynamics of the Indian paint market.

With regulatory approvals pending, the acquisition aims to propel JSW Paints into the echelons of the top four in the industry. The company's Managing Director, Parth Jindal, emphasized that the union with Dulux aligns with their vision to emerge as a leading player in the domestic market, which is forecasted to grow to USD 15 billion by 2029.

As the Indian paint industry continues to evolve, with local players gaining prominence over international firms, JSW Paints is determined to maintain competitiveness despite pricing pressures. The company has reaffirmed its commitment to leveraging the strengths of both JSW and Dulux to capitalize on growth opportunities in both premium and mass market segments.

(With inputs from agencies.)