Reliance Industries sells 3.64% stake in Asian Paints for `7,703.50 crore

Mumbai: Reliance Industries Ltd (RIL) has reduced its stake in Asian Paints by selling 3.5 crore shares, marking a significant exit from one of India’s top blue-chip companies.

The transaction, conducted via a block deal in Thursday’s pre-market session, was executed through RIL’s wholly owned subsidiary, Siddhant Commercials Ltd.

The shares were sold at Rs 2,201 per share, translating into a total deal size of Rs 7,703.50 crore. The sale accounted for around 3.64 per cent of Asian Paints’ total equity.

Despite the sale, RIL retains a minority stake of 87 lakh shares in the paint manufacturer.

The deal falls under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR), which mandates timely disclosures for significant stock movements.

RIL had first acquired its stake in Asian Paints in January 2008, investing Rs 500 crore during the global financial crisis.

Over the years, the investment appreciated substantially, but recent market performance has been less favorable.

Asian Paints has faced a challenging period, with its shares having dropped by 17 per cent over the past three years, making it one of the weakest performers among Nifty blue chips.

Analysts attribute this decline to increased competition, especially from Aditya Birla Group’s Birla Opus Paints, which has gained traction in the market.

According to Elara Securities, Asian Paints’ market share has slipped from 59 per cent to 52 per cent in FY25, signaling an erosion in its

dominance.