Corporate Grapevine     

Published: June 30, 2025
Updated: June 30, 2025

JSW’s paints boost after steel setback

Sajjan Jindal’s acquisition juggernaut keeps rolling, de spite the setback from the Supreme Court’s cancellation of Bhushan Power and Steel’s acquisition.

JSW Paints has signed definitive agreements to acquire up to a 74.76 per cent stake in Akzo Nobel India Ltd for Rs 8,986 crore ($ 1.08 billion). With the BPSL acquisition stalled by the Supreme Court, Jindal pivoted decisively into paints — an area launched in 2019 under Parth Jindal’s leadership — and quickly secured a marquee asset. JSW Paints is now integrating a renowned global brand while bypassing the le gal turbulence encountered in the steel deal. Analysts note that while raw material costs and competition remain chal lenges, this acquisition offers JSW significant scale and a stron ger defensive posture in an expanding sector.

Insiders say that with Parth Jindal leading the Akzo Nobel trans action, father Sajjan Jindal could soon make way for the son.