Akzo Nobel India Share News: A deal involving the Indian unit of paint industry giant Akzo Nobel has sent its shares soaring. According to exchange filings, the promoters have entered into a share purchase agreement with JSW Paints. Following the announcement, investors rushed to buy Akzo Nobel India shares, which surged intraday by 10.66% to ₹3,533.00 on the BSE. Some investors took advantage of this rally, and the shares remain in a strong position. Currently, they are trading on the BSE at ₹3,473.35, up 8.79%.
At What Price Is JSW Paints Buying Akzo Nobel Shares?
JSW Paints has struck a deal to purchase the promoters’ entire 74.76% stake in Akzo Nobel India from its Dutch parent company. The deal is priced at ₹2,762.05 per share, valuing the transaction at ₹9,400 crore. Additionally, JSW Paints has announced an open offer at ₹3,417.77 per share. On January 23 this year, Parth Jindal, MD of JSW Paints, told CNBC-TV18 at the World Economic Forum Summit in Davos that acquiring Akzo Nobel India’s stake is a fantastic opportunity, and they would give their all to secure it. Jindal emphasized that there was no alternative and they were fully committed to making the acquisition.
How Have the Shares Performed Over the Past Year?
Akzo Nobel’s shares were at ₹2,775.00 on July 23, 2024, marking a one-year low. From that low point, the shares jumped 67.53% within just three months, reaching a record high of ₹4,649.00 on October 9, 2024.
Disclaimer: This article is just for information. It should not be treated as investment advice in any way. Investing in the stock market is based on risk. Be sure to consult your financial advisor before investing in the stock market.
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