Asian Paints Exits Akzo Nobel India Selling 4.42% Stake for ₹734 Crore

Asian Paints has sold its entire 4.42% stake in Akzo Nobel India through a bulk deal worth approximately Rs 734 crore at an average price of Rs 3,651 per share. This exit follows JSW Paints' acquisition of a 74.76% controlling stake in Akzo Nobel India from its Dutch promoters in a deal valued at nearly Rs 9,000 crore, marking the Dutch parent group's complete exit from the Indian market. JSW Paints plans to fund the acquisition through a mix of internal accruals, bank debt, and private equity support, aiming to expand its footprint in the decorative paints industry. Akzo Nobel India's shares declined by around 1.5% on the day of the transaction but have shown an 11% gain over the past month and a 25% rise over the last year. The deal is subject to regulatory approvals and includes an open offer to public shareholders, with the stock trading above the open offer price. Asian Paints' stake sale and the JSW acquisition reflect significant structural changes in the Indian paints sector, with new players like JSW and the Aditya Birla Group reshaping the market landscape.