Shares of Akzo Nobel India Ltd. saw a sharp fall towards the close of trade on Wednesday, July 9, after a large trade that took place in the stock.As many as 17.9 lakh shares of Akzo Nobel India, worth ₹754 crore, changed hands in the large trade, according to data available.
The number of shares that changed hands, amounts to 4.42% of the company’s outstanding equity. Shares changed hands at an average price of ₹3,662 per share.
Asian Paints has confirmed to CNBC-TV18 that they indeed were the sellers in the transaction that took place in Akzo Nobel India.
Based on the shareholding pattern on the Bombay Stock Exchange (BSE), Asian Paints, India’s largest Paints company, held a 4.42% stake in Akzo Nobel India.The promoters of Akzo Nobel India executed a share purchase pact with JSW Paints, late last month, thereby confirming a CNBC-TV18 newsbreak.
The number of shares that changed hands, amounts to 4.42% of the company’s outstanding equity. Shares changed hands at an average price of ₹3,662 per share.
Asian Paints has confirmed to CNBC-TV18 that they indeed were the sellers in the transaction that took place in Akzo Nobel India.
Based on the shareholding pattern on the Bombay Stock Exchange (BSE), Asian Paints, India’s largest Paints company, held a 4.42% stake in Akzo Nobel India.The promoters of Akzo Nobel India executed a share purchase pact with JSW Paints, late last month, thereby confirming a CNBC-TV18 newsbreak.
The deal was announced at a price of ₹2,762.05 per share, which is a 16% discount to Akzo Nobel’s price on the previous day. This takes the total transaction value to ₹9,400 crore.
JSW Paints has announced the Open Offer price to be ₹3,417.77 per share and the stock continues to remain above the open offer price.
Shares of Akzo Nobel India fell as much as 2.6% post the transaction but ended 1.5% lower at ₹3,629. The stock has risen 11% in the last one month.
First Published: Jul 9, 2025 3:32 PM IS
