In a significant portfolio reshuffle, Asian Paints Ltd. has sold its entire 4.42% stake in Akzo Nobel India Ltd., fetching ₹734 crore via a bulk deal transaction, the company announced on Wednesday.
In its filing to the stock exchanges, Asian Paints stated that it has offloaded 20,10,626 equity shares of Akzo Nobel at ₹3,651 per share. The total deal was executed under the bulk deal mechanism.
This move comes at a time of rising action in the Indian ₹90,000 crore paint industry, especially following JSW Paints' ₹8,986 crore acquisition of Dulux India, and the aggressive market entry of Aditya Birla Group&rsquo;s Birla Opus.
Following the news, Asian Paints shares closed at ₹2,497.30, up 0.51%, after hitting an intra-day high of ₹2,535. The boost was aided by a rating upgrade from Jefferies, which moved its stance from Underperform to Buy, with a target price of ₹2,830.
Meanwhile, Akzo Nobel India shares slipped 1.56% to close at ₹3,627, likely in reaction to the offloading.
Asian Paints remains a major player in the market alongside Berger Paints, Kansai Nerolac, Indigo Paints, and now Birla Opus, which has significantly altered the competitive dynamics since its February 2024 debut.
The development comes after Asian Paints reported a 45% YoY drop in net profit for Q4 FY25, amounting to ₹692.13 crore, impacted by a one-time expense of ₹183 crore.
[Except for the headline, this article has not been edited by the Benefit News editorial team and is published directly from the IANS news feed.]

Asian Paints Sells Akzo Nobel Stake for ₹734 Crore

Paint major offloads entire 4.42% stake via bulk deal amid rising sector competition

Asian Paints Sells Akzo Nobel Stake for ₹734 Crore

Paint major offloads entire 4.42% stake via bulk deal amid rising sector competition

July 10, 2025 | 01:08 IST