Shares of Akzo Nobel India recorded a significant surge on Friday, climbing over 7% following the announcement by JSW Paints of its acquisition of the Dutch paint maker’s Indian operations in a substantial Rs 12,915-crore deal.
The share price settled at Rs 3,405 on the BSE, marking a 6.65% increase, with intra-day highs reaching Rs 3,533. On the NSE, the shares closed up by 7.20% at Rs 3,419 each.
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This transaction marks a pivotal moment for JSW Paints, as it acquires a 74.76% stake in Akzo Nobel India, aiming to fortify its position as the fourth-largest company in the Indian paint sector. The deal also comprises an open market offer to acquire an additional 25% stake.
