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Promoter Imperial Chemical Industries (ICI) sold a 5% stake in Akzo Nobel India Ltd for ₹765 crore in a block deal on September 24. The transaction was executed at an average price of ₹3,358.8 per share, according to exchange data.
Deal snapshot
– Stake sold: 5% in Akzo Nobel India Ltd by promoter Imperial Chemical Industries.
– Deal value: ₹765 crore.
– Average price: ₹3,358.8 per share.
– Date: September 24.
– Buyers: Nippon India bought 1.8% for ₹274 crore; WF Asian Smaller Companies Fund acquired 1.2% for ₹174 crore. Other participants included Goldman Sachs Funds, Baroda BNP Paribas Mutual Fund, Aditya Birla Sun Life Mutual Fund, and several other institutional investors.
Expansion plans and market context
Akzo Nobel India has signalled an expansion strategy to grow its presence in the Indian paint market, with a focus on the underpenetrated mass economy segment. The company aims to lift its market share from about 4-5% to roughly 7-7.5% in the near term, while pursuing a medium-term revenue target around ₹10,000 crore. The move comes as the Indian paints market continues to attract investment from both domestic and global players aiming to capture a larger footprint in decorative paints, coatings and specialty coatings.
Company profile and portfolio
Akzo Nobel India operates across a broad range of coatings segments, including decorative paints, automotive and specialty coatings, and industrial coatings. Its offerings cover marine, protective and yacht coatings as well as powder coatings, reflecting a diversified portfolio. The company reported revenue from operations of ₹4,091.21 crore in FY25, reflecting its established scale in the sector.
Market response
On the Bombay Stock Exchange, Akzo Nobel India Ltd closed at ₹3,386.60, down ₹8.05, or 0.24%, reflecting typical post-deal price movement after a block sale. Market observers will watch how the stake sale affects the company’s equity base and whether the expansion plan translates into accelerated growth in subsequent quarters.
Bottom line
The ₹765 crore block sale by Imperial Chemical Industries hands promoters a 5% stake while signaling confidence in Akzo Nobel India’s growth strategy. With a broader footprint across decorative and industrial coatings and a clear expansion roadmap, the paints maker sits at a pivotal point in India’s evolving coatings market.
