Asian Paints has officially exited its stake in Akzo Nobel India, triggering significant market interest and a minor dip in the stock price. The move was executed through a large trade involving lakhs of shares and came on the back of a broader transaction involving JSW Paints.
On July 9, a total of 17.9 lakh shares of Akzo Nobel India changed hands, amounting to a transaction value of ₹754 crore. These shares represented 4.42% of the company’s outstanding equity and were traded at an average price of ₹3,662 per share.
Asian Paints confirmed to CNBC-TV18 that it was the seller in this significant transaction. The company, known as the largest player in India’s decorative paints segment, has now fully exited Akzo Nobel India after holding a 4.42% stake.
The stake sale follows a prior share purchase agreement signed between Akzo Nobel India’s promoters and JSW Paints. The deal was struck at ₹2,762.05 per share, a 16% discount from the previous day’s closing price. This brought the total transaction value to ₹9,400 crore.
JSW Paints has made an open offer to acquire additional shares at ₹3,417.77 each. Even with this open offer in place, the stock has continued to trade above the offer price.
Read More: JSW Paints Eyes Top 3 Spot After Acquiring Akzo Nobel’s Decorative Business in India!
As of July 9, 2025, at 03:30 PM, Akzo Nobel India’s share price closed at ₹3,627, a 1.56% decrease.
The exit of Asian Paints marks a notable shift in Akzo Nobel India's shareholding pattern. The stock movement reflects how the market has interpreted this development.
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Published on: Jul 9, 2025, 4:38 PM IST
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