Berger Paints, one of the key players in India’s paint business, has issued a clarification on the possibility of the Kolkata-based company acquiring the Indian business of Dutch paint company Akzo Nobel, Akzo Nobel India.
Berger Paints Issues Clarification
Reacting to an article by the Economic Times Berger Paints filed a response in an exchange filing. In this exchange filing, the company said, “Berger Paints India Limited considers various proposals for inorganic growth and diversification, as a matter of routine exercise.
Akzo Nobel India is currently reported to be valued at around Rs 12,000 crore.
“As regards the news item that has appeared in ‘The Economic Times’ newspaper on 25th January 2025, captioned “Paint Cos of All Hues Line Up for Akzo Nobel India”, the statement from the company read.
Berger Paints clarified and said, “We would like to inform you that at present there is no material event/information/development in this matter to disclose under the Listing Regulations.”
JSW Paints’ Ambitious Bid
This statement comes at a time, when another major player, JSW Paints has made a strong case for itself.
In an interview with CNBC, JSW Paints’ Parth Jindal said that his company is excited at the prospects of acquisition and vowed to give “everything” in the battle to acquire the assets of Akzo Nobel India.
Jindal confirmed that they have submitted a bid for the 74.6 per cent holding in the company.
When we take a look at the shares of all the three companies mentioned here, although Berger Paints closed for Friday in red, the picture however looks better in the larger picture, unlike JSW Holdings.
It is to be noted that JSW Paints is not a listed entity yet.
Berger Paints India Ltd
Berger Paints closed the trading week in green with gains on Friday.
Adding to that, in the last 5 trading sessions, the company gained 2.48 per cent or Rs 11.60 of its value, closing at Rs 479.70 per piece.
JSW Holdings Ltd
JSW Holdings on the other hand closed for Friday and the week at large with deep cuts.
Over the past 5 trading sessions, the value of the company shares have declined by 5.41 per cent or Rs 1,050.25.
Akzo Nobel India Ltd
Finally, when we a look at the company in the middle of all the discussions, the shares of Akzo Nobel India, apart from making gains on January 24, the company stock rose in value in the period of the last five trading sessions.
The company shares rose by 0.38 per cent or Rs 14.55, taking the overall value to Rs 3,850.00.
