02-07-2025
JSW Paints eyes sharp rise in market share
Mumbai: JSW Paints aims to significantly increase its market share in decorative and industrial coating segments, following the acquisition of Akzo Nobel India Ltd, the makers of Dulux paints, a top company official said.
Last week, JSW Paints announced the acquisition of 74.76 per cent stake from the Dutch promoters of Akzo Nobel India Ltd (ANIL) for a consideration of Rs8,986 crore and announced an open offer of up to Rs3,929.06 crore. JSW Paints, part of Sajjan Jindal-led $23 billion JSW Group, will fund the nearly Rs13,000 crore acquisition, partly through a mix of internal accruals, support from financial creditors and through private equity, its Managing Director Parth Jindal said.
Once the acquisition is completed post approvals from regulatory bodies such as Competition Commission of India and others, the five-year old company, JSW Paints, would become the fourth largest player in the segment, he said. Terming it as a momentous occasion for JSW Paints, Jindal said 'coming together with Dulux, takes us into the top four in the Indian paint industry. It allows us to scale up our business and it allows us to come very close to our ambition of being in the top three players in the Indian paints industry.' After the acquisition of ANIL, JSW Paints would have two levers of growth in the domestic paints market, which is expected to grow to $15 billion by 2029.
Brand Dulux would focus on the premium side, in the metro and tier I & II cities, while JSW will continue to expand in the mass and value segments.
