Akzo Nobel India shares crack 15% amid reports of block deal worth ₹1,640 crore; what we know so far

Earlier, news reports said that Imperial Chemical Industries was likely to sell up to 9% stake in the company via a block deal. The offer size was reported to be ₹1,290.6 crore, and the floor price was reported to be ₹3,150 per share.

Akzo Nobel India: Latest updates

In early December, JSW Paints completed the acquisition of a majority stake of 60.7% in AkzoNobel India, subsequently becoming the promoter of the company.

With this deal, the combined entity with AkzoNobel India Ltd (ANIL) makes JSW Paints, a 5-year-old firm, the third-largest player in the decorative paint segment.

"Pursuant to the completion of the aforesaid acquisition, the acquirer (JSW Paints) now holds 27,871,723 equity shares, representing 61.2% of the paid-up equity share capital of the Company," ANIL said in a regulatory filing.

The promoters of the company have been reclassified from the 'promoter and promoter group' category of the company to the 'public' category, it added.

JSW Paints, currently an unlisted entity, is part of the $23-billion Sajjan Jindal-led JSW group, which operates in steel, cement, energy, infrastructure, automotive and paints.

It had announced funding its ₹13,000 crore deal to acquire ANIL through a mix of fund infusion from promoters, debt and PE funds.

Akzo Nobel India Q2 FY26 Results

The company reported a consolidated net profit of ₹1,682.8 crore for the September quarter of FY'26, mainly helped by exceptional gains from the sale of its Powder Coatings business division and the International Research Center division to AkzoNobel N.V.

The company, maker of Dulux paints, had posted a net profit of ₹97.9 crore in the corresponding July-September quarter a year ago, according to a regulatory filing from Akzo Nobel India Ltd (ANIL).

During the quarter ended September 30, 2025, the holding company reported exceptional items amounting to ₹1,874.2 crore, which included ₹1,892.5 crore from sales of the Powder Coatings business division and the International Research Center division.

However, it also had a provision of impairment of ₹7.9 crore and ₹10.4 crore on account of property and equipment, which were rendered unusable due to the slump sale and retention incentive for that.

Its revenue from operations was at ₹834.9 crore in the September quarter of FY'26. It was at ₹982.3 crore in the corresponding quarter on a year-to-year basis.