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Key Points

Asian Paints has sold its entire 4.42% stake in Akzo Nobel India for Rs 734 crore. The transaction was executed at Rs 3,651 per share through a bulk deal. The move comes amid heightened competition in India's Rs 90,000-crore paint market. Meanwhile, Jefferies upgraded Asian Paints to 'Buy' with a target price of Rs 2,830.

Key Points: Asian Paints Sells 4.42% Stake in Akzo Nobel India for Rs 734 Crore

  • Asian Paints sells 4.42% stake at Rs 3,651 per share
  • Deal valued at Rs 734 crore via bulk transaction
  • JSW Paints' recent acquisition shakes up paint industry
  • Jefferies upgrades Asian Paints to 'Buy' with Rs 2,830 target
2 min read

Asian Paints sells entire 4.42 pc stake for Rs 734 crore in Akzo Nobel India

Asian Paints exits Akzo Nobel India with Rs 734 crore bulk deal amid rising competition in the Rs 90,000-crore paint industry.

"The Company has, today, sold its entire holding of 20,10,626 equity shares in Akzo Nobel India Limited. – Asian Paints Exchange Filing"

Mumbai, July 9

Asian Paints Limited on Wednesday said that it has sold its entire 4.42 per cent paid-up share capital, representing 20,10,626 equity shares, in Akzo Nobel India Limited.

In a stock exchange filing, it said "The Company has, today, sold its entire holding of 20,10,626 equity shares in Akzo Nobel India Limited, representing 4.42 per cent of its paid-up share capital”.

For Rs 3,651 per share, the transaction was carried out in bulk, with a total deal value of roughly Rs 734 crore.

"The sale was executed for Rs. 3,651 per share through the bulk deal mechanism," as per the exchange filing.

The sale occurs at a time when the paint industry is experiencing increased activity, particularly following JSW Paints' Rs 8,986 crore purchase of the Dulux manufacturer.

Meanwhile, Asian Paints shares ended in positive territory at Rs 2,497.30, up 0.51 per cent.

The scrip gained around 1.5 per cent to hit an intra-day high of Rs 2,535.0 during the trading hours after international brokerage house Jefferies upgraded its rating to 'Buy' from Underperform. The brokerage firm set the target price target at Rs 2,830 per share for the paint stock.

Meanwhile, Akzo Nobel India shares traded lower to close at Rs 3,627.0, down 1.56 per cent.

Major companies like Asian Paints, Birla Opus, Berger Paints, Kansai Nerolac, Akzo Nobel India, and Indigo Paints currently control the Rs 90,000-crore paint market in India. The Aditya Birla Group's Birla Opus, which began operations in February 2024, caused a significant upheaval in this fiercely competitive market.

In the quarter that ended in March 2025, the paint manufacturer saw a 45 per cent year-over-year decline in consolidated net profit, reaching Rs 692.13 crore. Additionally, the business disclosed a one-time expense of Rs 183 crore.

- IANS

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Reader Comments

S
Shreya B
Interesting timing! Just after JSW's big purchase. Asian Paints probably saw this as the perfect exit window. The ₹734 crore will help them fight the price wars with new competitors.
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Aman W
The paint market is becoming like the telecom industry - too many players, shrinking margins. Asian Paints is wise to consolidate. But will this ₹734 crore be enough against Birla's deep pockets?
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Priya S
As a small investor, I'm worried about the 45% profit decline mentioned. Should we be concerned about Asian Paints' fundamentals? The stock is up today but long-term?
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Varun X
Jefferies upgrade seems suspiciously timed with this sale. Are retail investors being set up? The paint sector is becoming too volatile for my liking.
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Nisha Z
Good analysis in the article! The ₹90,000 crore paint market is heating up. Asian Paints selling stake while Jefferies upgrades - classic buy on rumor, sell on news situation. 🎨

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