Imperial Chemical to Sell 9% Akzo Nobel Stake in ₹1,290-Cr Block Deal

• Imperial Chemical Industries is likely to sell up to a 9% stake in Akzo Nobel India Ltd through a block deal.
• The potential deal is valued at ₹1,290.6 crore, with a floor price of ₹3,150 per share.
• The floor price represents a 13.1% discount to Akzo Nobel's current market price.
• Akzo Nobel India reported a Q2 net profit of ₹1,682 crore, driven by a one-time exceptional gain, despite a 15% revenue decline.
• Shares of Akzo Nobel India Ltd closed down 0.33% at ₹3,622 on BSE on December 16.

Why It Matters: Imperial Chemical plans to offload a significant stake in Akzo Nobel via a large block deal.