Imperial Chemical likely to sell 5% stake in Akzo Nobel via ₹742.7-crore block deal

Imperial Chemical Industries is likely to divest up to 5% stake in paint maker Akzo Nobel India Ltd through a block deal.

The offer size is pegged at ₹742.7 crore, with a floor price of ₹3,261.80 per share. This represents a discount of about 4% to Akzo Nobel’s last closing price. The seller will remain subject to a 30-day lock-up on its residual stake following the completion of the transaction.

Akzo Nobel India has a presence in a wide range of paints and coatings segments spanning from decorative paints, automotive and speciality coatings, industrial coatings, marine, protective and yacht coatings to powder coatings. Its revenue from operations in FY25 was ₹4,091.21 crore.

Also Read: From premium to mass, Akzo Nobel India eyes broader market reach

The Indian paint industry is led by Asian Paints. Besides Berger, Kansai Nerolac, Akzo Nobel India (Dulux), Indigo Paints, Shalimar Paints, and Nippon Paints are the other top brands.

Shares of Akzo Nobel India Ltd ended at ₹3,399, up by ₹22.45 or 0.66%, on the BSE today (September 23).

Also Read: CCI clears JSW Paints’ acquisition of up to 75% stake in Akzo Nobel India