SW Paints Aquires Akzo Nobel India in Rs 12,915 crore deal, reshaping Indian Paints Industry
In one of India’s largest M&A deals of the year, JSW Paints, the decorative coatings arm of the Sajjan Jindal-led JSW Group, has signed a definitive agreement to acquire a 74.76% stake in Akzo Nobel India — the maker of Dulux Paints— for ₹8,986 crore, with an open offer to purchase up to 25% more for ₹3,929 crore, taking the total deal size to ₹12,915 crore.
The acquisition instantly elevates JSW Paints into the top four players in India’s ₹90,000 crore decorative paints market, challenging giants like Asian Paints, Berger, and the recently aggressive Grasim-backed Birla Opus.
Strategic Shift in India’s Paints Sector
The deal gives JSW Paints direct access to premium decorative brands like Dulux and industrial coatings portfolios such as International and Sikkens, positioning ...