Berger Paints India has received an approval for the purchase of 1,88,63,180 equity shares of STP (STPL) representing 95.53% of the paid-up equity share capital of STPL. The balance 4.47% of the paid-up equity share capital of STPL will be held by the existing shareholders of STPL. The Board of the company at its meeting held on October 15, 2019, approved the same.
Berger Paints India is the second largest paint company in India. It is present in all segments of paint including decorative, automotive, industrial, protective and powder coatings.
