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  5. ICICI Prudential buys 85 lakh shares of Asian Paints worth ₹1,876 crore; check all details

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ICICI Prudential buys 85 lakh shares of Asian Paints worth ₹1,876 crore; check all details

Upstox
By Upstox News Desk

2 min read | Updated on June 16, 2025, 20:04 IST

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SUMMARY

Mukesh Ambani-led Reliance Industries on Monday had sold 85 lakh shares of Asian Paints through an open market transaction, which later was bought by ICICI Pru

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ASIANPAINT
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Asian Paints

On Monday, shares of Asian Paints surged 1.21% to settle at ₹2,241 apiece on the NSE.

Asian Paints block deal: ICICI Prudential Mutual Fund (MF) buys 85 lakh shares of Asian Paints worth ₹1,876 crore on Monday, June 16. With the acquisition of shares, ICICI Prudential MF's holding in Asian Paints rose to 2.12% from 1.24%.
Mukesh Ambani-led Reliance Industries on Monday had sold 85 lakh shares of Asian Paints through an open market transaction, which later was bought by ICICI Pru.

The share sale came days after Reliance Industries offloaded 3.50 crore equity shares, or a 3.64% stake, in Mumbai-based Asian Paints on June 12.

Also read: Reliance Industries arm sells Asian Paints shares worth ₹7,700 crore; check details here

According to the block deal data on the National Stock Exchange (NSE), Reliance Industries, through its affiliate Siddhant Commercials Pvt Ltd, disposed of 85 lakh shares, representing a 0.88% stake in Asian Paints.

The shares were sold at an average price of ₹2,207 apiece, taking the transaction value to ₹1,875.95 crore.

Reliance Industries' investment in Asian Paints has been for 17 years.

Last month, The Economic Times had reported that Reliance had engaged Bank of America (BoFA) to manage the transaction through one or more block deals. The report also said that it came amid mounting margin pressures and rising competition in India’s ₹75,000-crore paints market.

On Monday, shares of Asian Paints surged 1.21% to settle at ₹2,241 apiece on the NSE.

Asian Paints March qaurter results

Asian Paints reported a 45% decline in consolidated net profit to ₹700.83 crore for the March quarter (Q4 FY25) due to muted demand and increased competitive intensity in the market.

The company had logged a net profit of ₹1,275.30 crore in the January-March period last year, according to a regulatory filing by Asian Paints.

Its revenue from operations slipped 4.25% to ₹8,358.91 crore in the March 2025 quarter. It was ₹8,730.76 crore in the year-ago period.

During the quarter, "muted demand conditions and consumer sentiment coupled with downtrading and increased competitive intensity impacted revenue", Asian Paints said in its earnings statement.

Also read: Tata Steel gains on aiming 10-15 MT production via recycling in 10-15 years

Asian Paints' total expenses fell marginally year-on-year to ₹7,276.60 crore in the March quarter.

Its total income, including revenue from other sources, declined 5.14% to ₹8,458.76 crore in the March 2025 quarter.

(With PTI inputs)
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