Imperial Chemical to Sell 5% Stake in Akzo Nobel India via ₹742.7 Crore Block Deal

25 Sep 2025 , 10:16 AM

Imperial Chemical Industries (ICI) is planning to divest up to 5% stake in Akzo Nobel India Ltd through a block deal. The size of the offer is estimated at ₹742.7 crore. The floor price for the block deal has been fixed at ₹3,261.80 per share. The price reflects a discount of nearly 4% to Akzo Nobel India’s previous closing price.

Following the completion of the deal, ICI will be restricted by a 30-day lock-up period on its remaining shareholding, preventing further stake sales during this time.

Akzo Nobel India operates in a diverse range of segments including decorative paints, automotive and speciality coatings, industrial coatings, marine and protective finishes, yacht coatings, and powder coatings.

The company reported revenue from operations of ₹4,091.21 crore in FY25. The Indian paints and coatings market is currently led by Asian Paints. Other leading brands in the sector include Berger Paints, Kansai Nerolac, Akzo Nobel India (Dulux), Indigo Paints, Shalimar Paints, and Nippon Paints.

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