Business • Jun 27, 2025

JSW Paints acquires majority stake in Akzo Nobel India

JSW Paints is set to buy 75% of Akzo Nobel India for nearly ₹9,000cr, making it the country's new No. 4 in paints.
The deal covers AkzoNobel's popular Dulux paints and is part of a larger ₹12,000cr transaction.

TL;DR

Sale expected to wrap up by late 2025

AkzoNobel will keep its India Powder Coatings business and research center. There's also an open offer for another 26% from minority shareholders.
The sale should wrap up by late 2025 if regulators give the green light.
AkzoNobel plans to use the cash for paying down debt and buying back shares, with its CEO saying he trusts JSW's local know-how to boost growth in India's paint market.