Akzo Nobel India Sees Promoter Exit Momentum: Imperial Chemical Offloads 2.3 Million Shares via Block Deal

In a strategic divestment move, Imperial Chemical Industries (ICI), one of the principal promoters of Akzo Nobel India Ltd, sold 2.3 million shares via a block deal today, marking a key step in the ongoing ownership transition. The transaction is part of a broader exit strategy by ICI and Akzo Nobel Coatings International B.V., paving the way for JSW Paints to acquire a controlling stake in the company.

 

Key Developments:

The block deal represents a partial offload from ICI’s 50.46% stake in Akzo Nobel India, ahead of JSW Paints’ planned acquisition of up to 74.76% of the company.

 

The shares were sold at a price aligned with the ₹2,762.05 per share valuation agreed under the June 2025 share purchase agreement.

 

This move follows SEBI’s open offer guidelines and is part of the phased promoter reclassification process.

 

Strategic Implications:

The transaction signals accelerating momentum in JSW Paints’ ₹9,446 crore acquisition of Akzo Nobel India.

 

Akzo Nobel N.V. will continue brand licensing in India post-acquisition, ensuring continuity for customers and partners.

 

Sources: Economic Times Realty, MarketScreener.