Akzo Nobel India: ICI Plans 9% Stake Sale via Block Deal at 13% Discount

• Imperial Chemical Industries (ICI), Akzo Nobel India's promoter, plans to sell up to a 9% stake via a block deal.
• The potential deal is estimated to be worth around ₹1,290.6 crore.
• The floor price is set at ₹3,150 per share, a 13.1% discount from Tuesday's closing price of ₹3,624.
• This block deal could lead to short-term stock pressure due to increased supply.
• Long-term investors should focus on the company's fundamentals and the paint sector outlook.

Why It Matters: Akzo Nobel India's promoter ICI to offload 9% stake at a significant discount, impacting short-term stock.