The open offer, managed by Morgan Stanley India Company Private Ltd, proposes the acquisition of up to 1,18,40,482 fully paid-up equity shares of face value ₹10 each from public shareholders at a price of ₹3,231.77 per share. Shares of Akzo Nobel India Ltd ended at ₹3,345.00, up by ₹3.85, or 0.12%, on the BSE.

Akzo Nobel | The paint company, recently acquired by the JSW Group, announced a special dividend worth ₹156 per share for its shareholders and the record date for this has been fixed as Monday, August 11. The stock will start trading adjusted for this special dividend from today.

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Published Oct 14, 2025 | 1:56 PM GMT-04

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Sajjan Jindal's JSW Paints Ltd, along with JTPM Metal Traders Ltd and JSW EduInfra Private Ltd, has issued a Letter of Offer (LOF) for an open offer to acquire up to 26% of Dutch paint maker Akzo Nobel India Ltd's equity share capital.

The open offer, managed by Morgan Stanley India Company Private Ltd, proposes the acquisition of up to 1,18,40,482 fully paid-up equity shares of face value ₹10 each from public shareholders at a price of ₹3,231.77 per share. The total consideration for the offer amounts to approximately ₹2,997.11 crore, assuming full acceptance.

The open offer is being made following the earlier public announcement dated June 27, 2025, and detailed public statement dated July 4, 2025. The open offer size may be subject to proportionate reduction to ensure that the combined shareholding of the acquirer and persons acting in concert does not exceed 75% of Akzo Nobel India’s voting share capital.

Also Read: From premium to mass, Akzo Nobel India eyes broader market reach

If the offer is fully subscribed, the maximum size may be reduced to 92,73,902 shares, representing around 20.36% of the company’s voting capital.

In June this year, JSW Paints announced the acquisition of the Akzo Nobel India unit in a ₹ 12,915-crore deal to become the fourth-largest player in the paint industry in the country.

JSW Paints will buy a 74.76% stake in Dulux paint-maker Akzo Nobel India for ₹8,986 crore and launch an open offer to buy another 25% from the open market for up to₹3,929.06 crore.

Shares of Akzo Nobel India Ltd ended at ₹3,345.00, up by ₹3.85, or 0.12%, on the BSE.

Also Read: CCI clears JSW Paints’ acquisition of up to 75% stake in Akzo Nobel India