Global paints and coatings major Akzo Nobel India Ltd is set to witness a significant ownership reshuffle as its promoter, ICI, announced plans to sell up to 9% stake in the company through a block deal. The transaction, valued at approximately ₹1,291 crore, will be executed at a floor price of ₹3,150 per share, according to market disclosures.
The move comes amid heightened activity in India’s equity markets, with several multinational corporations recalibrating their holdings in local subsidiaries. Analysts note that the block deal could attract strong interest from institutional investors, given Akzo Nobel India’s robust financial performance and leadership position in the decorative paints and industrial coatings segments.
Akzo Nobel India has consistently reported steady revenue growth, supported by demand in housing, infrastructure, and automotive sectors. The company’s premium paint brand Dulux continues to enjoy strong market visibility, while its industrial coatings division has expanded with new partnerships in manufacturing and construction.
Market experts believe the stake sale is part of ICI’s broader capital allocation strategy, aimed at unlocking value and diversifying investments. The deal is also expected to improve liquidity in Akzo Nobel India’s stock, making it more attractive for long-term investors.
Meanwhile, the broader equity market remained cautious. The Nifty 50 index traded flat at 25,855, giving back early gains after touching a high of 25,929. Technical analysts warned of near-term weakness, with support levels seen around 25,780–25,800. A decisive break below these levels could trigger further declines, while resistance remains at 25,950–25,970.
