JSW Paints to acquire Akzo Nobel India in ₹9,000 crore deal
Mumbai: JSW Paints said that on Friday, the Dutch parent will receive 74.76% of Nobel India Ltd. La9,000 crore. A compulsory open offer to the purchasing and minority shareholders subject to regulatory approvals will bring built -in brands such as Dulux and Sikkens under the JSW umbrella.
The process historically points to a significant consolidation in India’s paint market, dominated by a handful of players. With this agreement, JSW Paints positions as a serious contestant behind Asia Paints and recently AGRESS BIRLA OPUS, which will rapidly be the second largest compared to capacity.
“We are excited to invite them to the JSW family,” said Parth Jindal, General Manager of JSW Paints, “he said. “With the thought of Dulux’s magic and the idea of JSW paints, we look forward to satisfying customers and creating a permanent value for our stakeholders.”
Akzo Nobel Indian shares increased by more than 8% on Friday, 1130: 00 (India Time). La3,455.90 in BSE.
“This process is an important milestone in the execution of our strategy. With JSW, we are sure that the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the industry. In October 2023, the Netherlands Paints Maker made a possible output from India, where he launched a strategic examination of local operations.
JSW’s entrance points to the second major pressure on the Indian Paints market in recent years. Until recently, the sector was directed by Asian paints, then by Berger Paints, Kansai Nerolac and Akzo Nobel. This hierarchy has been followed by Birla Opus as a great opponent since then and JSW has now followed the first four positions.
JSW Paints was released in 2019 and is part of the $ 23 billion JSW group. Portfolio covers decorative and industrial paints.
According to a direct report, India’s decorative and industrial paint market is expected to reach $ 15.04 billion by 2029 by 2029. As the demand went beyond the metro markets, the competition in the sector intensified.
JSW wasn’t the only contestant. Pidility industries and indigo paints were also running to buy Akzo Nobel India. Indigo, a newer participant in the highest level of the sector, is competing for the first four points.
MINT, according to March 27, in the meantime, the giant of adhesives pidilite, to enter the paint segment of the internal capacity continues to develop.
