The development came after JSW Paints announced in June this year that it would buy a 74.76 per cent stake in Akzo Nobel India for Rs 8,986 crore, followed by an open offer to buy another 25 per cent from the open market for up to Rs 3,929.06 crore, totalling over Rs 12,915 crore, to become the fourth-largest player in the paint industry in the country.
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