Akzo Nobel India Limited has received a substantial acquisition disclosure from HDFC Mutual Fund, indicating an increase in the fund house's stake to 5.85% of the company's paid-up equity share capital. The acquisition was completed on December 17, 2025, through open market purchases.

Acquisition Details

The disclosure, made under Regulation 29(1) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011, reveals that HDFC Mutual Fund's aggregate holdings reached 5.85% of Akzo Nobel India's paid-up equity share capital as of the close of business hours on December 17, 2025.

Company Share Capital Structure

Akzo Nobel India's paid-up equity share capital stands at ₹45.54 crores, comprising 4,55,40,314 equity shares of ₹10.00 each. The share capital structure remained unchanged before and after the acquisition.

HDFC Mutual Fund Schemes Involved

The acquisition involved multiple HDFC Mutual Fund schemes managed by HDFC Trustee Company Limited, including:

• HDFC BSE 500 ETF
• HDFC BSE 500 Index Fund
• HDFC Children's Fund
• HDFC Housing Opportunities Fund
• HDFC Multi Cap Fund
• HDFC Non Cyclical Consumer Fund
• HDFC NIFTY 500 MULTICAP 50:25:25 INDEX FUND
• HDFC Hybrid Equity Fund
• HDFC Retirement Savings Fund - Equity Plan
• HDFC NIFTY SMALLCAP 250 ETF
• HDFC NIFTY SMALLCAP 250 INDEX FUND
• HDFC Small Cap Fund

Holdings Comparison

The fund house's position in Akzo Nobel India shows an increase from its previous holding:

Regulatory Compliance

The disclosure was made by Dinesh Bhakade, Deputy Vice President - Compliance at HDFC Asset Management Company Limited, serving as the Investment Manager for HDFC Mutual Fund. The notification was sent to both BSE Limited and National Stock Exchange of India Limited, where Akzo Nobel India's shares are listed.

This acquisition represents an increase in HDFC Mutual Fund's exposure to Akzo Nobel India, a player in the specialty chemicals and coatings industry.

AkzoNobel India Limited has received a GST order from the Kerala GST Department on December 15, 2025, following a show cause notice issued earlier in September 2025. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GST Order Details

The Assistant Commissioner, Kochi, Kerala GST Department issued an order dated December 12, 2025, which was received by the company on December 15, 2025. The order pertains to the disallowance of Input Tax Credit (ITC) under section 73 of the CGST/SGST Act, 2017, for the period from April 2021 to March 2022.

Background and Company Response

The company had initially received a show cause notice from the Kerala GST Department on September 26, 2025, with a higher demand amount. The original notice carried a demand of ₹32,42,892, comprising tax amount of ₹32,42,892 along with applicable interest and penalty.

Following the show cause notice, AkzoNobel India submitted its response along with supporting documents within the given time limit. The GST authorities reviewed the company's reply, which resulted in a reduced demand amount in the final order.

Next Steps

The order remains open for further submissions before the relevant authorities. The company has indicated that it is in the process of responding to the order within the stipulated time as mentioned in the GST order. This suggests that AkzoNobel India intends to contest or seek clarification on the demand raised by the Kerala GST Department.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by providing an update on the pending litigation. This follows the earlier disclosure made on September 26, 2025, when the initial show cause notice was received. The disclosure ensures transparency for investors regarding ongoing regulatory proceedings that may impact the company's financial position.