Akzo Nobel India zooms after JSW Paints inks deal to acquire up to 74.76% stake in it

The definitive agreements are to acquire up to 74.76 per cent stake in Akzo Nobel India from Akzo Nobel N.V. and its affiliates

Akzo Nobel India is currently trading at Rs. 3440.50, up by 247.90 points or 7.76% from its previous closing of Rs. 3192.60 on the BSE.

The scrip opened at Rs. 3212.00 and has touched a high and low of Rs. 3533.00 and Rs. 3121.95 respectively. So far 47496 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4649.00 on 09-Oct-2024 and a 52 week low of Rs. 2775.00 on 23-Jul-2024.

Last one week high and low of the scrip stood at Rs. 3533.00 and Rs. 3086.00 respectively. The current market cap of the company is Rs. 15565.45 crore.

The promoters holding in the company stood at 74.76%, while Institutions and Non-Institutions held 12.17% and 13.07% respectively.

JSW Paints has entered into definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India from Akzo Nobel N.V. and its affiliates, for a maximum consideration under the share purchase agreement of up to Rs 8,986 crore, subject to certain closing adjustments. 

Akzo Nobel India is engaged in the business of manufacturing, trading and selling of paints and related products. The Company also provides research and development services to the holding company and its group companies.