The shares to be acquired through the open offer represent up to 25.24% of the voting share capital of Akzo Nobel India,JSW Paints has announced an open offer to acquire an additional 25.24% in Akzo Nobel India Ltd following its deal for acquisition of a 74.76% stake in the Dulux paint-maker for Rs 8,986 crore struck last month, according to a regulatory filing.
JSW Paints Ltd, along with JTPM Metal Traders Pvt Ltd and JSW EduInfra Pvt Ltd, has announced an open offer for acquisition of nearly 1.15 crore fully paid-up equity shares of face value of Rs 10 each from the public shareholders at a price of Rs 3,417.77 each, said Morgan Stanley India, the manager of the offer in a letter shared on bourses by Akzo Nobel India Ltd.
The shares to be acquired through the open offer represent up to 25.24% of the voting share capital of Akzo Nobel India, it added. The last date for public announcement for competing offers is July 25, 2025.
The date of commencement of the tendering period is Aug. 20, 2025 and date of closure of the tendering period is Sept. 3, 2025, as per the letter. The open offer is subsequent to JSW Paints' announcement that it would buy a 74.76% stake in Dulux paint-maker Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25% from open market for up to Rs 3,929.06 crore.
