The India enterprise of Akzo has a market capitalisation of about ₹15000 crore which incorporates some verticals like powder coating that wouldn’t be included within the sale
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PHIL NOBLE
The combat for Akzo Nobel’s India enterprise has now boiled down to simply two gamers – JSW Paints and Indigo Paints – with Pidilite not placing in bids, sources stated. Amongst the 2, JSW Paints is alleged to be a frontrunner, these conscious of the discussions revealed.
Homeowners of the Dulux model, Akzo India has a near-8 per cent market share.
The deal is anticipated to be valued at ₹10,000-12,000 crore, it’s being stated, with the winner selecting up ornamental and industrial coatings.
Powder coatings and the R&D items are to be bought again to the Dutch-parent.
“A remaining resolution within the ongoing sale course of is but to be taken by Akzo NV, the Netherlands-based mum or dad firm,” an individual conscious stated.
AkzoNobel India & JSW Group didn’t reply to queries by businessline. Pidilite has not commented on a earlier questionnaire despatched by the paper.
Pidilite reportedly was eyeing solely the ornamental enterprise.
Hemant Jalan’s Indigo Paints, backed by personal fairness main Creation Worldwide, was not instantly accessible for feedback.
The India enterprise of Akzo has a market capitalisation of ₹15000 crore-odd; which incorporates some verticals like powder coating that wouldn’t be included within the sale.
The enterprise evaluate, first signaled final 12 months, comes as Akzo NV, the mum or dad firm, seeks to streamline operations and increase effectivity amid international financial uncertainties.
AkzoNobel India, the fourth participant by market measurement, after Asian Paints, Berger and Kansai Nerolac, is centred on ornamental paints for properties and business areas, operates as a largely self-contained unit, insulated from international provide chain disruptions.
The India unit is listed on Indian inventory exchanges.
Earlier this 12 months, the unit right here acquired the Dulux model’s mental property rights for India, Nepal, Bhutan, and Bangladesh for ₹1,152 crore. Concurrently, it bought its powder coatings enterprise to the mum or dad firm for ₹2,073 crore and its R&D vertical for ₹70 crore. The online proceeds of ₹991 crore will cowl tax obligations from the gross sales and fund dividends to shareholders.
businessline had beforehand reported that JSW Paints, Indigo Paints (backed by PE agency Creation) and probably Pidilite are those in fray. Two binding bids had been positioned by April.
Dutch agency AkzoNobel NV holds a 74.76 per cent stake in AkzoNobel India and any try at buying a controlling stake will set off an open supply.
Primarily based in the marketplace cap of the Indian arm on the finish of day’s commerce on Could 15, the mum or dad’s stake is valued at round ₹11,854 crore.
The native enterprise of AkzoNobel consists of the ornamental paints section in addition to the economic paints section and the agency’s inventory worth has rallied by 35.79 per cent within the final 12 months.
AkzoNobel India in FY25 reported a income from operations of ₹4,091.2 crore, up by 3 per cent, EBIT from operations flat at ₹551.8 crore; double digit profitability sustained at 13.5 per cent and PAT flat at ₹428.6 crore.
Printed on Could 15, 2025
