Dulux paints sold! This Indian company signs Rs 89860000000 deal to buy major stake at…, becomes fourth largest paint company in India with market value of Rs…

India.com

5 hours ago

JSW Paints, the paint company owned by the Jindal Group, has announced that it will buy a 74.7 per cent stake in the Indian unit of Akzo Nobel, the company known for selling paints under the Dulux brand in India. The deal is worth Rs. 8,986 crore. With this deal, JSW Paints has now become the fourth largest paint company in India's Rs. 80,000 to 90,000 crore paint market.
Following the purchase, JSW will also be required to make an open offer to buy another 26 per cent of the company's shares from public investors, as per Indian market rules. Other bidders in the race
This deal had been in discussion for some time, and JSW Paints was not the only company interested in buying Dulux. Other companies in the race included Indigo Paints and a group led by Advent International and Pidilite Industries. But under the leadership of Parth Jindal, JSW Paints managed to outbid them all.
Akzo Nobel's Dutch parent company is selling its stake through two promoter entities: Imperial Chemical Industries Ltd., which holds 50.46 per cent of Akzo Nobel India
Akzo Nobel Coatings International B.V., which owns another 24.30 per cent
Together, these two firms are selling a combined 74.7 per cent stake to JSW Paints. JSW Paints shares future plans, aims to build a stronger brand
JSW Paints Managing Director Parth Jindal has shared his excitement about the company's latest move. Talking about the recent deal to acquire Akzo Nobel India (makers of Dulux paints), he said, 'We are happy to welcome this new company into the JSW family. By working together with their employees, customers, and partners, we want to build the paint company of the future.' JSW Paints chasing a Spot in the Top 3
Since its launch, JSW Paints has struggled to break into the top 3 brands in the decorative paints market. Meanwhile, Birla Opus, the new paint brand from Grasim Industries, has made fast progress, capturing 3 to 4 per cent market share in just one quarter. JSW Paints not listed on the stock market
It's important to note that JSW Paints is not a publicly listed company. However, it belongs to the larger JSW Group, whose major firms like JSW Steel and JSW Energy are already listed on the stock exchange.
With the acquisition of a well-known brand like Dulux, JSW Paints is clearly aiming to expand its reach and strengthen its place in India's growing paint industry.