Indigo Paints has entered into a Share Purchase and Share Subscription Agreement (SPSS) and a Shareholders Agreement (SHA) on April 03, 2023 with Apple Chemie India (ACIPL) to acquire 51% equity shares in ACIPL. Indigo Paints also has an option to acquire additional stake in Apple Chemie at the end of 3 years.
ACIPL is engaged in the manufacture and sale of construction chemicals and water proofing products. With the acquisition of 51% equity share, ACIPL will become a subsidiary of the Company, enabling the Company in expanding its product portfolio in the space of construction and water proofing products.
Indigo Paints is one of the fastest-growing paint companies in India.
| Company Name | CMP |
|---|---|
| Asian Paints | 2463.40 |
| Berger Paints India | 468.80 |
| Kansai Nerolac Paint | 203.05 |
| JSW Dulux | 2930.65 |
| Indigo Paints | 839.55 |
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