Asian Paints sells entire 4.42 per cent stake in Akzo

Akzo shares closed at Rs ₹3631.70 on Wednesday

Asian Paints – the country’s largest paint-maker- has sold its entire stake in Akzo Nobel India for ₹734 crore. Over 20,00,000 equity shares representing 4.42 per cent of the paid up capital of Akzo was off-loaded via bulk deals.

In a notice to the bourses, on Wednesday, Asian Paints said, “The entire holding of 20,10,626 equity shares in Akzo Nobel India Limited, representing 4.42 per cent of its paid-up share capital” was sold.

“The sale was executed at a price of ₹3,651 per share through the bulk deal mechanism,” the notice said.

Akzo shares closed at ₹3631.70 on Wednesday.

The stake sale comes after Sajjan Jindal led JSW Paints announced its acquisition of Akzo Nobel India at a ₹9000 crore bid; and a subsequent open offer valued at ₹3500 – 4000 crore. This is seen as one of the biggest deals in the country’s highly competitive paints sector.

Published on July 9, 2025