JSW Paints and Advent-Indigo Show Interest in Acquiring Dulux Paints Maker Akzo Nobel India

According to news reports, JSW Paints, led by Sajjan Jindal, and a partnership between Advent International and Indigo Paints have submitted final bids to buy Akzo Nobel India, known for Dulux Paints. 

The parent company, Akzo Nobel NV from the Netherlands, is planning to exit the Indian market due to a global business reshuffle. Pidilite Industries, the maker of Fevicol, is also showing interest but is mainly eyeing Akzo’s decorative paints division and hasn’t placed a strong bid.

Reason Behind the Sale

Akzo Nobel NV wants to sell its stake in the Indian unit as part of its global restructuring. The company holds a 74.76% share in Akzo Nobel India. The tough competition in the Indian paint market and changing demand conditions have made Akzo reconsider its business plans in the country.

Market Challenges

The Indian paint industry has faced challenges in the first half of FY25 due to heatwaves, elections and a prolonged monsoon, affecting overall demand. The entry of Aditya Birla Group with its brand Birla Opus has increased competition and forced existing companies to cut prices, putting further pressure on profit margins.

Deal Progress and Market Impact

Binding offers were made after extending the initial deadline of April 15. Akzo Nobel’s board is expected to hold meetings soon to assess the bids. However, all offers are reportedly 10–15% lower than Akzo Nobel India’s current market value of nearly ₹15,943 crore. 

Read More: Akzo Nobel to Sell Powder Coating Business to Akzo Nobel N.V.: Received Binding Offer

Share Performance 

As of April 25, 2025, at 10:15 AM, Akzo Nobel India Limited Share Price is trading at ₹3,477.80 per share, reflecting a decline of 0.82% from the previous day’s closing price. Over the past month, the stock has surged by 3.80%. The stock’s 52-week high stands at ₹4,674.00 per share, while its low is ₹2,420.80 per share.

Conclusion

Akzo Nobel NV’s decision to exit India has opened up a big opportunity for major players in the paint industry. The final choice will be made after board discussions and the outcome could bring major changes to the competitive landscape of the Indian paint market.

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