Mumbai, June 27 -- JSW Paints said Friday it will acquire a 74.76% stake in Akzo Nobel India Ltd. from its Dutch parent Akzo Nobel N.V. and its affiliate, in a deal valued at nearly Rs.9,000 crore. The acquisition, subject to regulatory approvals and a mandatory open offer to minority shareholders, will bring established brands like Dulux and Sikkens under the JSW umbrella.

The transaction marks a significant consolidation in India's paints market, historically dominated by a handful of players. With this deal, JSW Paints is positioning itself as a serious contender behind Asian Paints and the recently aggressive Birla Opus, which has quickly scaled up to become the second-largest by capacity.

"We are excited to welcome them to the JSW ...