Akzo Nobel India share price crashed 15% to ₹3,080 apiece in Wednesday's trading session amid reports of block deal worth ₹1,640 crore that played out largely as expected. Around 5.19 million shares, representing about 11.4% of the company’s equity, were traded in a block deal valued at approximately ₹1,638.5 crore, at a price of ₹3,159 per share, according to CNBC TV18 report. The buyers and sellers involved are not still unknown. On Tuesday, December 16, Akzo Nobel’s promoter, Imperial Chemical Industries, was planning to divest up to a 9% stake in the company through a block deal, according to the report. The proposed transaction was valued at ₹1,290.6 crore, with a floor price fixed at ₹3,150 per share—about a 13% discount to Tuesday’s closing price, as per the report. Expand article logo Continue reading As of the end of the September quarter, Imperial Chemical Industries held a 45.46% stake in Akzo Nobel India Ltd. All this is for information. This is not a buy/sell recommendation. thank you, Technofunda24

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