JSW Group has secured a ₹9,300-crore financing package to fund its ₹12,915-crore acquisition of Akzo Nobel India, aiming to make JSW Paints the fourth-largest paint company in India.

The funding includes ₹3,300 crore in operating company-level debt raised by JSW Paints through foreign lenders like SMBC, MUFG, Mizuho, Barclays, JPMorgan, and DBS at a 10% interest rate plus withholding tax. Additionally, ₹3,000 crore is being raised via loan against shares from domestic mutual funds such as Kotak Mutual Fund, structured at around 8.5%. Another ₹3,000 crore will come from convertible instruments at the JSW Group’s holding company level, sourced from private credit funds. The Sajjan Jindal Family Trust also sold a stake in JSW Infrastructure, raising ₹1,210 crore to meet Sebi norms and assist in funding. This multi-level financing highlights JSW’s strategic push to expand its paints business and strengthen its position in the competitive Indian market.