JSW Paints Limited has entered into definitive agreements to acquire up to a 74.76% stake in Akzo Nobel India Limited (ANIL) from Akzo Nobel NV and its affiliated entities. The proposed deal is valued at up to ₹8,986 crore, subject to customary closing adjustments.
The acquisition is pending necessary approvals, including clearance from the Competition Commission of India and the completion of a mandatory open offer to ANIL’s public shareholders in accordance with regulatory requirements. JSW Paints, a rapidly expanding player in India’s paints industry and part of the US$23 billion JSW Group, is making this move to strengthen its position in the decorative and industrial paints segment. ANIL, which operates iconic brands such as Dulux, Sikkens, and International, is a subsidiary of the Netherlands-based Akzo Nobel — a global leader in the coatings industry.
With this acquisition, JSW Paints aims to significantly enhance its market footprint and product offerings. The integration of ANIL’s established brands and experienced workforce is expected to accelerate JSW Paints’ mission of becoming a major force in the Indian paint sector.
Parth Jindal, Managing Director of JSW Paints, commented, “The paints and coatings industry in India is on a strong growth trajectory, and JSW Paints is already among the fastest-growing players. Welcoming Akzo Nobel India’s brands and teams into the JSW family is a landmark step. Together, we aim to create a future-ready paint company that blends the heritage of Dulux with JSW Paints’ customer-centric innovation. We’re excited about the opportunities ahead to serve customers better and generate value for all stakeholders.”
Greg Poux-Guillaume, CEO of AkzoNobel, said “This marks an important chapter in our strategic journey. Akzo Nobel India has consistently delivered strong results, thanks to its well-known brands and exceptional people. We believe JSW brings the right expertise and commitment to carry this legacy forward and scale it further in the Indian market.”
Founded in 2019, JSW Paints has quickly become one of India’s fastest-growing paint companies. It offers a wide range of decorative paints and industrial coatings backed by advanced manufacturing technology, strong marketing, and a growing distribution network.
The JSW Group, with a market presence worth US$23 billion, is among India’s most diversified industrial conglomerates. It has established leadership across sectors including steel, cement, energy, infrastructure, paints, e-commerce, and more. JSW is known for executing large-scale projects, fostering innovation, and prioritizing sustainable growth. With a global workforce of nearly 40,000, the Group is committed to social development and creating long-term value.
