Dulux paints sold! This Indian company signs Rs 89860000000 deal to buy major stake at…, becomes fourth largest paint company in India with market value of Rs…
JSW Paints, the paint company owned by the Jindal Group, has announced that it will buy a 74.7 per cent stake in the Indian unit of Akzo Nobel, the company known for selling paints under the Dulux brand in India. The deal is worth Rs. 8,986 crore. With this deal, JSW Paints has now become the fourth largest paint company in India's Rs. 80,000 to 90,000 crore paint market.
Following the purchase, JSW will also be required to make an open offer to buy another 26 per cent of the company's shares from public investors, as per Indian market rules. Other bidders in the race
This deal had been in discussion for some time, and JSW Paints was not the only company interested in buying Dulux. Other companies in the race included Indigo Paints and a group led by Advent International and Pidilite Industries. But under the leadership of Parth Jindal, JSW Paints managed to outbid them all.
Akzo Nobel's Dutch parent company is selling its stake through two promoter entities: Imperial Chemical Industries Ltd., which holds 50.46 per cent of Akzo Nobel India
Akzo Nobel Coatings International B.V., which owns another 24.30 per cent
Together, these two firms are selling a combined 74.7 per cent stake to JSW Paints. JSW Paints shares future plans, aims to build a stronger brand
JSW Paints Managing Director Parth Jindal has shared his excitement about the company's latest move. Talking about the recent deal to acquire Akzo Nobel India (makers of Dulux paints), he said, 'We are happy to welcome this new company into the JSW family. By working together with their employees, customers, and partners, we want to build the paint company of the future.' JSW Paints chasing a Spot in the Top 3
Since its launch, JSW Paints has struggled to break into the top 3 brands in the decorative paints market. Meanwhile, Birla Opus, the new paint brand from Grasim Industries, has made fast progress, capturing 3 to 4 per cent market share in just one quarter. JSW Paints not listed on the stock market
It's important to note that JSW Paints is not a publicly listed company. However, it belongs to the larger JSW Group, whose major firms like JSW Steel and JSW Energy are already listed on the stock exchange.
With the acquisition of a well-known brand like Dulux, JSW Paints is clearly aiming to expand its reach and strengthen its place in India's growing paint industry.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
20 minutes ago
- Time of India
Noida junks Max's Rs 67cr waiver plea for takeover of Delhi One
Noida: Noida Authority has rejected a request by Max Estates Ltd to waive constitution change charges (CIC) of around Rs 67 crore for its acquisition of the stalled Delhi One project in Sector 16B. The charges — mandated under the Authority's new unified policy that was announced in Feb this year — are applicable because of a complete change in shareholding following insolvency proceedings. Max had initially sought a complete waiver of the CIC, but later proposed to deposit Rs 22 crore — roughly 40% of the assessed charges — in an interest-bearing account with certain conditions. The Authority, however, insisted that the full amount must be paid in keeping with the new policy's guidelines — unless specifically waived by a competent court, tribunal, or the Authority's own board. Delhi One, a mixed-use development being implemented by Boulevard Projects, was taken over by Max Estates after it emerged as the successful resolution applicant through proceedings at the National Company Law Tribunal (NCLT). You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida As part of the approved resolution plan, Max offered to settle dues with secured financial creditors and the Authority, which initially raised claims of over Rs 932 crore. But only Rs 325 crore of Noida's claim was formally accepted under the plan. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trier: GEERS sucht 700 Testhörer vor 1972 geboren GEERS Undo Seeking to resolve outstanding liabilities and speed up completion of the project, Max submitted a revised conditional offer to pay the Authority Rs 613 crore over three years — which translates to 53% of the total claimed dues — including interest at SBI's MCLR rate. While the Authority board accepted the settlement offer in-principle, Max also requested a waiver of CIC, arguing that the charges were not justified given the circumstances. When the Authority dragged its feet on the decision, the company approached the Allahabad high court, which in April this year asked the Authority to place the matter before its board and inform the developer of its decision within four weeks. In a letter dated April 21, Max proposed to pay Rs 22 crore as part of CIC charges. The company, however, sought the right to withdraw the amount from the account if the Authority board ruled in its favour and also reserved the option to legally challenge any adverse decision regarding the remaining amount.
Time of India
20 minutes ago
- Time of India
South Goa highway project to use AI-driven construction technology
Panaji: The Union ministry of road transport and highways (MoRTH) has chosen highway projects across the country where AI-driven technology will be implemented. Of the 16 pilot projects chosen across the country for the implementation of the technology in 2025-26, one is the Rs 700 crore project in Goa for the four-laning of 22km of the highway from Bendordem to Canacona. The ministry will use Automated and Intelligent Machine-aided Construction (AIMC) for this project, which was successfully tested in the construction of the Lucknow-Kanpur expressway project. Officials said that the Bendordem to Canacona project was sanctioned and will be awarded soon. The new technology will ensure faster, efficient and accurate construction with minimum human intervention. 'AIMC involving GPS-aided motor grader, intelligent compactor and stringless paver were used in the Lucknow-Kanpur expressway project. For the Bendordem to Canacona project, the ministry has said it will facilitate the contractor to get the required licence for the needed radio frequency range to use the technology, from the department of telecommunications,' said an official. Officials said that AIMC was found useful in projects requiring a significant amount of earthwork like the Goa project. 'GPS-guided machines and 3D modelling, among other technologies, will be used to ensure that the construction is as close to the design as possible. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Explore Home Solar Installation Careers and Training Options LocalPlan Search Now Undo A login and password will be created, where all data from the project will be saved. It is not a substitute for the conventional quality checks, but the aim of AIMC is to aid quality management,' said the official. The expansion of the NH-66 from Bendordem to the start of the Canacona bypass forms an integral part of the Mumbai-to-Kanyakumari four-lane corridor. It is a crucial artery connecting the towns of Margao, Cuncolim, and Canacona. It will traverse the villages of Bendordem, Cordem, Barcem and Canacona. This stretch is vital to facilitate the inter-state traffic with Karnataka and Maharashtra, which will also improve intra-state connectivity to Panaji and Margao. The project is being taken up on a hybrid annuity model, where the govt provides 40% of the project cost as construction support to the private developer during construction. The remaining 60% is paid as annuity payments over the concession period, along with interest. Govt also makes separate payments for operations and maintenance.
The Print
24 minutes ago
- The Print
‘CEO CM' 2.0 takes stage with Amaravati as theme. Quantum Valley is Chandrababu's next centrepiece
The project, allocated 50 acres of land, is in alignment with the National Quantum Mission (NQM). It is designed to include startups, MNCs, academia and research laboratories. After Cyberabad and Genome Valley, both set up around 25 years back when he was at the helm, Naidu has set out to surpass the legacy left behind in Hyderabad by building a Quantum Valley at Amaravati. Scheduled for inauguration on 1 January next year, Amaravati Quantum Valley (AQV) is a pioneering initiative aimed at establishing India's first dedicated quantum computing and deep tech ecosystem, officials say. Hyderadabad: A decade since his shift after the bifurcation of Andhra Pradesh, Chief Minister Chandrababu Naidu still grabs any opportunity to evoke his vision, effort in building the IT, bio and business hubs that turned a laidback Hyderabad into a major economic growth engine in the country. Seated in Amaravati, some 300 km from the HITEC city, bio-pharma centre that went to Telangana in 2014, Naidu is drawing up blueprints to find the Andhra Pradesh capital a good spot on the global business-innovation map. Much like the circular Cyber Towers, a widely recognised office space symbolising Hyderabad's IT prowess, AQV will feature an iconic building housing India's largest quantum computer, requiring highly specialised cryogenic labs and spotless rooms for quantum hardware. Officials say it allows establishment of a focused high-tech ecosystem dedicated to quantum computing, deep technologies, and research-intensive industries and a state-of-the-art quantum computing center, envisioned to be the largest of its kind in India. The valley's key components include a Quantum Valley Tech Park to be developed in collaboration with renowned players including IBM, Tata Consultancy Services (TCS), and Larsen & Toubro (L&T). IBM is set to install its 156-qubit Quantum System Two—the largest and most powerful quantum computer to date in India—while L&T will handle infrastructure development. TCS will provide quantum computing services and hybrid computing solutions, integrating quantum capabilities into sectors such as healthcare, finance, and manufacturing, a concept note accessed by ThePrint says. At the same time, academic integration is ongoing with Andhra Pradesh State Council of Higher Education (APSCHE) directing state universities to introduce quantum computing courses. For instance, the Visakhapatnam-based Andhra University plans to offer major and minor degree programmes in quantum computing from 2025–26, ensuring a skilled workforce for the emerging quantum industry. Aiming to secure a first-mover advantage in the quantum technology sector, the southern state aims to leverage the emerging tech to enhance public services, and 'to develop India's first quantum governance framework.' While the Naidu government has not disclosed the cost of developing Quantum Valley, it will be part of the broader NQM, 'which is allocated a budget of Rs 6,004 crore for 2023 to 2031 period'. 'Given its prominence in the mission, the Quantum Valley is expected to receive a substantial portion of this funding,' said a state official who did not wish to be named. The administration has set an ambitious target to complete construction of the main quantum facility, installation of the computing systems, and supporting ecosystem infrastructure by this year's end. The core partners already involved are IBM, TCS, and academic institutions like IIT Madras. Purdue University and University of Tokyo have accepted proposals to collaborate with the DeepTech Research Park, and the partnerships aim to foster international research collaborations and academic exchanges. Quantum Valley is also designed as a multi-disciplinary deep tech ecosystem, supporting, attracting a wide range of advanced tech sectors intersecting with or complementing quantum technologies like AI, semiconductors, high-performance computing (supercomputing), defense and space tech, and advanced materials and photonics. The AQV will support a full range of R&D activities including product design and algorithm development for sectors like healthcare, logistics, and finance advanced prototyping of quantum hardware and software systems and small-scale advanced manufacturing of specialised components like cryogenic devices. 'What makes Quantum Valley stand out is its integrated approach: combining quantum, AI, semiconductors, and advanced manufacturing; hosting MNCs, startups, and academia; and even applying quantum tech to governance. It's the first of its kind in India, and globally rare in its scale, planning, and openness,' the note mentions. Quantum Valley is in alignment with national missions like Atmanirbhar Bharat and Digital India by building deep-tech capabilities within the country, the note says. 'Precise daily/annual dollar value output is not available because quantum technology is nascent and the Valley's initial focus is R&D, talent development, and ecosystem building, not immediate commercial sales. Its primary output will be intellectual property, scientific breakthroughs, and skilled workforce,' says an official involved in the project. However, its economic impact will be substantial and indirect: creating high-end jobs, attracting global investment, driving efficiency and new revenue streams for industries adopting quantum solutions, and providing invaluable national security benefits. The Indian quantum computing market is projected to grow from $71.4 million (2024) to $500 million (2035), with Quantum Valley aiming to be a major catalyst in capturing this growth and establishing India as a global quantum leader, the note adds. (Edited by Tony Rai) Also Read: A house for Mr Naidu, finally in Amaravati. Tale of two CMs & their accommodations in AP capital
