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JSW Paints has officially taken control of Akzo Nobel India, completing the purchase of a 60.76% stake from Akzo Nobel N.V. and its affiliates. The deal closed on Wednesday, marking a major consolidation move in India’s fast-growing paints and coatings market.
Following the conclusion of an open offer to public shareholders—through which JSW Paints acquired an additional 0.44%—the company now holds 61.2% of Akzo Nobel India.
In a statement, JSW Paints said the acquisition “positions JSW Paints as one of the major players in the sector,” adding that the industry is poised for “robust growth” in the coming years.
Sajjan Jindal, chairman of the JSW Group, welcomed Akzo Nobel India employees to what he called the “JSW family,” noting the significance of bringing the globally recognised Dulux brand under the JSW umbrella.
“We have always believed that India deserves paints and coatings that are trusted and world-class,” he said. “Together, there is an incredible opportunity to build a stronger, brighter and more colorful future for our customers and for India.”
Parth Jindal, managing director of JSW Paints, described the acquisition as one of the largest transactions in India’s paints and coatings industry to date. He said JSW Paints aims to combine the “Magic of Dulux” with the “Thoughtfulness of JSW Paints” to create long-term value.
The closing follows JSW Paints’ June announcement that it had signed definitive agreements to buy up to 74.76% of Akzo Nobel India for as much as ₹8,986 crore, pending closing adjustments.
AkzoNobel CEO Greg Poux-Guillaume said the handover represents a key milestone in refining the company’s global strategic focus. He expressed gratitude to the India team and confidence in JSW as a “strong and committed partner” in one of the world’s fastest-expanding coatings markets.
