JSW Paints, led by Sajjan Jindal, has sought approval from the Competition Commission of India (CCI) to acquire a majority stake in Akzo Nobel India—a deal valued at Rs 12,915 crore that could significantly reshape the Indian paint industry.

In June, JSW Paints announced plans to acquire a 74.76% stake in Akzo Nobel India for Rs 8,986 crore. Following this, it intends to launch an open offer to public shareholders for the remaining 25.24% stake, amounting to up to Rs 3,929.06 crore.

According to the notice submitted to the CCI, the transaction involves a share purchase agreement along with a mandatory open offer, aimed at securing up to 75% control of the company. Both parties have stated that the deal does not raise any competition concerns in the relevant markets.

JSW Paints is part of the $23 billion JSW Group, which has diversified interests across steel, cement, energy, automotive, and infrastructure. Akzo Nobel India, known for its well-established brands such as Dulux, International, and Sikkens, is a key player in the decorative and industrial paints segment.

Post-acquisition, Akzo Nobel NV will retain ownership of the Powder Coatings business and the International Research Centre, which will continue to operate independently from Akzo Nobel India.