JSW Group Eyes AkzoNobel India Acquisition in Rs 9,000-Crore Deal

Mumbai — In a strategic move that could reshape India’s paints and coatings industry, billionaire Sajjan Jindal and his family are reportedly in advanced talks to acquire AkzoNobel India, the domestic arm of the global Dutch paints giant, in a deal valued at approximately ₹9,000 crore.

According to sources familiar with the development, the Jindal family is considering pledging a portion of their equity stake in JSW Steel and JSW Paints to fund their part of the transaction. The family is expected to contribute around ₹2,000 crore in equity, while the remaining ₹7,000 crore would be mobilized through a mix of debt and structured credit instruments.

If the deal proceeds, it would mark a major leap for JSW Paints, which has been steadily growing its presence in the decorative and industrial coatings segment since its inception. Acquiring AkzoNobel India would bring the prestigious Dulux brand under JSW’s umbrella and offer immediate access to an expansive and well-established distribution network across the country.

Industry experts suggest that the move is aligned with JSW Group’s larger ambition to diversify its portfolio and deepen its footprint in the consumer-facing paints business, currently dominated by players such as Asian Paints, Berger, and Kansai Nerolac.

The acquisition, once finalized, could signal heightened consolidation activity in India’s fast-growing paints sector, especially as demand surges in both the urban and rural housing segments.

Both JSW Group and AkzoNobel India have not yet issued formal statements regarding the ongoing discussions.

By Vijay Amin.