Akzo Nobel India Limited — Important, 24-02-2025: Disclosure of material issue

The Board of Directors of Akzo Nobel India Limited has received a Binding Offer Letter from Akzo Nobel N.V. proposing the purchase of its Powder Coatings Business and the International Research Center in Bangalore on a slump sale basis. The Powder Coatings division contributed INR 4,212.6 million (approximately 10.7% of the total revenue) to the company’s revenues for the last financial year, while the International Research Center contributed INR 535 million (about 1.4%). The transaction is valued at INR 20,730 million for the Powder Coatings division and INR 700 million for the International Research Center. This strategic move aims to streamline operations and focus more on liquid coatings, aligning with market opportunities. The transaction is expected to close by December 31, 2025, subject to necessary approvals. This sale not only enhances operational efficiency but also strengthens the company's position in its core business areas, signaling a positive outlook for long-term value creation.