Akzo Nobel Shares Soared Over 9% After Promoters Signed SPA to Sell India Business to JSW Paints

On June 27, 2025, Akzo Nobel shares rose over 9%, reaching a day high of ₹3,533.00 at 10:30 AM after operating at ₹3,212.00 on BSE. The gain in Akzo Nobel share price came after the company announced that its promoters have entered into a share purchase agreement (SPA) with JSW Paints, as disclosed in a regulatory filing on Friday, June 27.

Transaction Details

As part of the agreement, Akzo Nobel India's promoters will divest their entire 74.76% stake in the company to JSW Paints. This includes shares held through Imperial Chemicals and Akzo Nobel Coating International.

The transaction is valued at ₹2,762.05 per share — representing a 16% discount to Akzo Nobel India's closing price on Thursday — bringing the total deal size to approximately ₹9,400 crore.

The initial tranche of the deal involves a payment of ₹8,986 crore. In addition, there is a contingent consideration of ₹447 crore that may become payable subject to certain conditions being met in the future.

Notably, JSW Paints has announced an Open Offer to public shareholders at a price of ₹3,417.77 per share — a premium to Akzo Nobel India's Thursday closing price.

Also Read: JSW Energy Signs 25-Year PPA with NHPC for 300 MW Hybrid Project 

Akzo Nobel Q4FY25 Earnings Highlights

During Q4FY25, Akzo Nobel India Limited reported a 5% year-on-year increase in revenue from operations, reaching ₹1,022.1 crore. However, EBIT declined by 2% to ₹137.1 crore, while profit after tax (PAT) stood at ₹107.5 crore, marking a marginal 1% dip. For the full financial year, revenue rose by 3% to ₹4,091.2 crore. EBIT remained steady at ₹551.8 crore, maintaining a strong double-digit margin of 13.5%, and PAT held flat at ₹428.6 crore. The Board has recommended a final dividend of ₹30 per share for FY 2024-25.

Akzo Nobel India Limited Chairman and Managing Director, Rajiv Rajgopal, commented: “In Q4 2024-25, Akzo Nobel India registered ahead-of-industry topline growth, driven by double-digit growth in B2B businesses. In retail, the business continued to grow in premium category and urban centers, while demand in mass and economy categories was impacted by competitive dynamics. Despite such market environment, we sustained double-digit profitability and continued to grow market share. For the financial year 2024-25, we achieved new highs across revenue, gross margins, EBIT, and PAT, marking our fourth consecutive year of record performance; while also making strategic investments to support long-term growth."

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