Akzo Nobel India block deals: Goldman Sachs, Morgan Stanley, and others buy 5% stake; check details

Citigroup Global Markets Mauritius, Nippon India Mutual Fund (MF), Edelweiss Life Insurance Company, Ward Ferry Management, Societe Generale, Dublin-based Mediolanum International Funds and BNP Paribas Financial Markets are among the entities that have bought stakes in Akzo Nobel India, as per block deal data on the NSE.

These entities have collectively purchased over 22.77 lakh shares, or 5%, in separate deals.

The shares were bought at an average price of ₹3,358.80 apiece, taking the combined deal value to ₹764.80 crore.

Meanwhile, Imperial Chemical Industries, one of the promoters of Akzo Nobel India, offloaded these shares at the same price.

After the stake sale, Imperial Chemical Industries' holding in Akzo Nobel India has come down to 45.46% from 50.46%. The combined shareholding of promoters in the company has also declined to 69.76% from 74.76%.

Shares of Akzo Nobel India ended 0.21% higher at ₹3,399.80 apiece on the NSE.

Last week, the Competition Commission of India (CCI) cleared Sajjan Jindal-led JSW Paints' proposal to acquire a majority stake in Dutch paint maker Akzo Nobel's India unit in a ₹12,915 crore deal.

What happened in June 2025?

In June 2025, JSW Paints, part of the $23 billion JSW Group, said it would acquire a majority controlling stake in Akzo Nobel India Ltd (ANIL), the maker of Dulux paints, for ₹8,986 crore.

It will acquire a 74.76% stake from its Dutch promoters/holding entities -- namely Imperial Chemical Industries and Akzo Nobel Coatings International BV -- for a consideration of ₹8,986 crore, according to a statement from the JSW Group firm.

The deal will help the JSW Group expand its play into the paint segment, which it entered into in 2019 and is a relatively new player establishing its base in the industry.

"This transformative acquisition positions JSW Paints as one of the major players in the sector, which is expected to see robust growth in the years ahead," it said.

Akzo Nobel India Q1 FY26 Results

Paints and coatings maker Akzo Nobel India reported a 20.6% decline in consolidated net profit to ₹91 crore in the June quarter (Q1 FY26), impacted by lower sales amid tepid consumer demand.

It had posted a consolidated net profit of ₹114.6 crore in the corresponding period last fiscal year, Akzo Nobel India said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at ₹995.1 crore as compared to ₹1,036.3 crore seen in the year-ago period, it added.

Total expenses in the April-June quarter were marginally lower at ₹881.6 crore against ₹891.7 crore logged in the same period a year ago, the company said.