JSW Paints Secures Major Stake in AkzoNobel India, Ascends in Paint Market

JSW Paints has acquired a majority stake in AkzoNobel India, making it a key player in the decorative paint industry. The acquisition sees JSW Paints, now majority shareholder, poised for significant growth in the market. The move aligns with JSW's strategy to offer world-class paints in India.

JSW Paints, a part of the Sajjan Jindal-led conglomerate, has finalized the acquisition of a 60.7% majority stake in AkzoNobel India. As the dominant shareholder, JSW Paints is now the third-largest entity in India's decorative paint sector.

The completed deal includes 27,871,723 equity shares, forming 61.2% of AkzoNobel India's current equity share capital. This transition reclassifies the company's promoters to public shareholders, marking a significant shift in ownership.

Sajjan Jindal, JSW Group Chairman, expressed optimism about the acquisition, emphasizing the opportunity to elevate paint offerings across India. AkzoNobel will retain its powder coatings business, while JSW Paints positions itself for future expansion in the fast-growing market.