The India Business of Akzo has a market capitalization of around 15,000 crore that contains some industries such as powder coating that are not included in the sale: Phil Noble
The struggle for the Indian business of Akzo Nobel has now come to only two players – JSW colors and indigo colors – whereby Pidilit did not make any offers, said sources. Among the two JSW Paints should be a leader who is aware of the unveiled discussions.
The owners of the Dulux brand, Akzo India, have a market share of almost 8 percent.
The deal is expected to have a value of 10,000 to 12,000 GBP, and the winner collects decorative and industrial coatings.
Powder coatings and F&-units are to be sold to the Dutch parent.
“A final decision in the ongoing sales process still has to be made by Akzo NV, which is made in the Netherlands based in the Netherlands,” said one person.
Akzonobel India & JSW Group did not respond to questions from Businessline. Pidilite did not comment on an earlier questionnaire sent by the newspaper.
Pidilit reported that only the decorative business looked at.
Hemant Jalans Indigo -Farben, supported by Private Equity Major Advent International, was not immediately available for comments.
The India Business of Akzo has a market capitalization of 15,000 Crore-ODD. This includes some industries such as powder coating that are not included in the sale.
The business check, which signaled for the first time last year, will take place as an Akzo NV, the parent company, to optimize the operations and to increase efficiency in global economic uncertainties.
Akzonobel India, the fourth player according to the market size, after Asian colors, Berger and Kansai Nerolac, are concentrated on decorative colors for houses and trade rooms, works as largely self -contained unit, isolated from global disorders of the supply chain.
The Indian unit is listed on Indian stock exchanges.
At the beginning of this year, the unit acquired the intellectual property rights of the Dulux brand for India, Nepal, Bhutan and Bangladesh for 1,152 billion GBP. At the same time, it sold the business with powder coatings to the parent company for 2,073 billion GBP and its F&E vertical for 70 billion GBP. The net proceeds of 991 billion GBP will cover the tax obligations from the sales and fund dividends to the shareholders.
Businessline I had previously reported that JSW Paints, Indigo Paints (supported by PE company Advent) and possibly Pidilit are those in Fray. Two binding offers had been stored by April.
The Dutch company Akzonobel NV holds a share of 74.76 percent of Akzonobel India, and any attempt to buy a controlling share will trigger an open offer.
Based on the market capitalization of the Indian arm at the end of the day trade on May 15, the proportion of parents has a value of around 11,854 billion GBP.
The local business of Akzonobel includes the segment for decorative colors and the Industrial Paints segment, and the company’s share price has collected by 35.79 percent last year.
Akzonobel India in the financial year25 reported sales of the business of 4,091.2 billion GBP by 3 percent and EBIT from Operations Flat at 551.8 billion GBP. The double profitability of 13.5 percent and Pat Flat at 428.6 billion GBP.
Published on May 15, 2025