ManufacturingMarket hours
JSW Paints to raise ₹3,300 cr for Akzo Nobel acquisition
market hours1 source ↓written by the desknot a recommendation
- through non-convertible debentures
- ₹3,300 crore
- acquisition
- ₹12,915 crore
- capital infusion plan
- ₹6,500 crore
JSW Paints plans to raise ₹3,300 crore through non-convertible debentures to help finance its ₹12,915 crore acquisition of a 74.76% stake in Akzo Nobel India. The bonds, rated ‘AA- (Stable)’ by ICRA, are part of a larger ₹6,500 crore capital infusion plan. This acquisition will also trigger an open offer for remaining shares.
Not investment advice. For informational purposes only.