JSW Group has secured a ₹9,300-crore multi-tier financing package to fund its acquisition of Akzo Nobel India, combining debt, convertibles, and a loan against shares at the promoter level.

The deal is structured into three key tranches: ₹3,300 crore in operating company-level debt raised by JSW Paints through foreign lenders such as SMBC, MUFG, Mizuho, Barclays, JPMorgan, and DBS at an interest rate of 10% plus withholding tax; ₹3,000 crore via a loan against shares from domestic mutual funds, including Kotak Mutual Fund, at around 8.5% interest; and ₹3,000 crore through convertible instruments at the JSW Group's holding company level, backed by private credit funds. This strategic financing aims to strengthen JSW Paints’ market position following the ₹12,915-crore acquisition announcement. The Sajjan Jindal-led group continues to expand its footprint in the paints sector, targeting a spot among India's top players. Key stakeholders declined to comment on the development.