U. K. Paints has increased its ownership stake in Berger Paints India Limited to 64.57% through an amalgamation. The acquisition involves 16,87,88,138 equity shares and was undertaken through a scheme involving U.K. Paints (Overseas) Limited and B.J.N. Holdings (I) Limited. The transaction, effective from July 14, 2025, aims to streamline the group structure and enhance operational efficiency. Intimations regarding the acquisition were previously filed with stock exchanges.
Acquisition Details
U. K. Paints has acquired 16,87,88,138 equity shares of Berger Paints India Limited. The acquisition increases U. K. Paints’ registered ownership of Berger Paints to 64.57% of its equity share capital.
Scheme of Amalgamation
The acquisition was executed as part of a scheme of amalgamation, involving U.K. Paints (Overseas) Limited and B.J.N. Holdings (I) Limited. The effective date of this scheme is July 14, 2025.
Exemption Details
This transaction falls under the exemption provided by Regulation 10(1)(a)(iii) of the Takeover Regulations. The shares were acquired from Jenson & Nicholson (Asia) Limited, a wholly owned subsidiary of the acquirer.
Pre and Post Acquisition Holdings
Before the acquisition, U. K. Paints held 50.09% of Berger Paints. Post-acquisition, their holding increased to 64.57%. The shareholding of KSD Family Trust remains unchanged at 0.86%.
Rationale
The amalgamation aims to simplify the group structure, reduce legal and regulatory complexities, and achieve efficient capital utilization. It involves rationalizing the existing group structure to streamline regulatory compliance.
Source: BSE
