JSW Paints Seeks Approval to Acquire Akzo Nobel

22 Jul 2025 CW Team

JSW Paints, led by Sajjan Jindal, has approached the Competition Commission of India (CCI) for approval to acquire a majority stake in Akzo Nobel India, a Rs 12,915-crore deal that would significantly alter the Indian paint industry landscape.

In June, JSW Paints announced its plan to acquire a 74.76 per cent stake in Akzo Nobel India for Rs 8,986 crore. This would be followed by an open offer to public shareholders to purchase another 25.24 per cent for up to Rs 3,929.06 crore.

As per the notice filed with the CCI, the acquisition includes a share purchase agreement and a mandatory open offer to gain up to 75 per cent control. The parties stated that the transaction raises no competition concerns in any relevant markets.

JSW Paints is part of the $23 billion JSW Group, with interests across steel, cement, energy, automotive, and infrastructure sectors. Akzo Nobel India, known for brands like Dulux, International, and Sikkens, is a major player in decorative and industrial paints.

Akzo Nobel NV will retain the Powder Coatings business and International Research Centre, which are currently under Akzo Nobel India, but will operate independently post-acquisition.

JSW Paints, along with JTPM Metal Traders and JSW EduInfra, launched the open offer. Managing Director Parth Jindal called the move an exciting step toward building the "paint company of the future."

Akzo Nobel NV had earlier announced a strategic review of its South Asia portfolio in October 2024 to focus on its core coatings segment. The Indian paint industry is led by Asian Paints, with strong competition from Berger, Kansai Nerolac, and emerging players like Pidilite, Grasim, and Indigo Paints.

Resources

26 Jun 2026

G R Infraprojects Founder Vinod Agarwal Passes Away

Vinod Kumar Agarwal, Founder and Promoter of G R Infraprojects, has passed away. He had been associated with the company since its inception in 1995. His vision, determination and entrepreneurial acumen laid the foundation for the company and helped shape its growth into a leading name in India’s infrastructure sector.Agarwal served as Managing Director from 2008 to 2021 and later as Chairman and Whole-time Director from 2021 to 2025. He stepped down from the office of Director on 10 November 2025. During his leadership tenure, the company moved through significant phases of growth, operatio..

Centre Prioritising Energy Security With Coal Gasification

Union minister for Coal and Mines G Kishan Reddy said the Centre is prioritising energy security through a strategic shift to coal gasification and has announced incentives totalling Rs 460 billion (bn) to support the effort. He said more than 35 companies will start coal gasification activities in India within two months and that the government is encouraging firms that bring technology to close the domestic technology gap. The minister described the initiative as aimed at reducing import dependence and developing indigenous capacity. India has the fifth-largest coal reserve in the world, and..

BHEL and Coal India Invest Rs 250 bn in Odisha Gasification

Bharat Heavy Electricals (BHEL) and Coal India (CIL) are jointly investing Rs 250 billion in a coal gasification project in Odisha, with the Prime Minister laying the foundation stone in Jharsuguda. Union Coal and Mines Minister G Kishan Reddy described the initiative as a transformative shift in coal utilisation that will open industrial avenues for the state. The project moves coal beyond conventional power generation to industrial feedstocks. Coal gasification will convert coal into synthesis gas, a versatile feedstock for chemicals, fertilisers and synthetic fuels, and the technology is ex..