Brands
JSW Paints to acquire 74.76 per cent stake in Akzo Nobel India in bold Rs 8986 crore move
MUMBAI: JSW Paints dipped its brush into the big leagues on Thursday, signing definitive agreements to acquire up to 74.76 per cent stake in Akzo Nobel India Limited (ANIL) for a maximum consideration of Rs 8986 crore. The all-cash deal, one of the sector’s most significant in recent years, marks JSW Paints’ ambitious leap toward top-tier status in India’s fast-expanding paints and coatings market.
The acquisition is contingent upon regulatory approval from the Competition Commission of India and completion of a mandatory open offer to ANIL’s public shareholders. Should all go as planned, the JSW Group’s paints arm will become a heavyweight challenger to incumbents in a market long dominated by a few legacy players.
ANIL, the Indian arm of Netherlands-based Akzo Nobel, brings with it marquee brands like Dulux, International and Sikkens, and a strong decorative and industrial paints portfolio. In return, JSW Paints, part of the $23 billion JSW Group, gains reach, muscle and a serious splash of brand equity.
JSW Paints managing director Parth Jindal said, “Paints & Coatings is one of India’s fastest growing sectors and JSW Paints is amongst the fastest growing paint companies. Akzo Nobel India is home to some of the most globally renowned brands of paints & coatings like Dulux, International and Sikkens. We are excited to welcome them to the JSW family. Together, along with the Akzo Nobel India family – employees, customers and partners – we aspire to build the paint company of the future. With the Magic of Dulux and Thoughtfulness of JSW Paints, we look forward to delighting customers and building lasting value for our stakeholders”.
Akzonobel CEO Greg Poux-Guillaume added, “This transaction is a significant milestone in the execution of our strategy. Akzonobel India has been a consistently strong performer, and we are proud of the brand and talent that have made it a success. With JSW, we are confident the business is in the hands of a long-term partner with deep local expertise and strong ambitions in the sector”.
The acquisition underscores a broader strategy by JSW Paints to cement itself as a dominant force in a market projected to clock double-digit growth, driven by rising urbanisation, housing demand, and premiumisation. It also reflects increasing consolidation in the Indian paints sector, where the battle for shelf space and mindshare has intensified.
Morgan Stanley served as exclusive financial adviser to JSW Paints, with Khaitan & Co. acting as legal counsel and Deloitte overseeing financial and tax due diligence.
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Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
