Akzo Nobel India falls after reports of promoter Imperial Chemical Industries 9% stake sale

JSW Dulux

17/12/2025 05:08

** Shares of Akzo Nobel India AKZO.NS fall 12.7% to 3,162 rupees

** Set to fall the most since June 2006

** Promoter Imperial Chemical Industries is likely to sell up to a 9% stake in co via a block deal is pegged at 12.91 billion rupees ($142.96 million), CNBC-TV18 reports

** Block deal shows 6.4 mln shares traded -  exchange data

** The offer size's floor price is at 3,150 rupees/share, representing ~13% discount to Tuesday's close

** Last week, Imperial Chemical sold 36.46% stake in the co

** In June, Dulux Paint-owner said promoters have agreed to sell its entire shareholding to JSW paints, which will give JSW sole control

** JSW paints may hold up to 75% of AKZO post $1.6 billion deal

** YTD, AKZO down 8%

($1 = 90.3080 Indian rupees)

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))