# Asian Paints acquires 51% stake in Harind Chemicals

Asian Paints entered into definitive agreements to acquire a 51% stake in Harind Chemicals and Pharmaceuticals Private Limited for approximately Rs. 12.75 crores ($1.5 million), with an agreement to acquire an additional 39% over five years.

- Type: Acquisition
- Announced: 2022-10-26
- Where: India
- Value: $1.50M (12.8M INR)
- Status: announced
- Products: nanotechnology-based coatings, surface coating and care products
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Asian Paints](https://endata.com/companies/16120.md) (acquirer)
- [Harind Chemicals and Pharmaceuticals Private Limited](https://endata.com/companies/66102.md) (target)
- [Aapex Power and Industries Private Limited](https://endata.com/companies/66411.md) (partner)

## Sources

- [coatingsworld.com](https://www.coatingsworld.com/breaking-news/asian-paints-enters-into-nanotechnology-partnership-with-harind/), 2022-10-26: "Asian Paints has entered into a definitive agreements to acquire a 51% stake in Harind Chemicals and Pharmaceuticals Private Limited from Aapex Power and Industries Private Limited, Dr. Swapan Ghosh & others, for a consideration of approximately Rs. 12.75 crores ($1.5 million)."
- [statnano.com](https://statnano.com/news/71558/Asian-Paints-Enters-into-Nanotechnology-Partnership-with-Harind), 2022-11-04: "Being forerunners in world class coatings technology, this partnership with Harind leverages Asian Paints in the era of Next Gen Nanotechnology, to offer customers an exciting wave of innovations, in the coating space."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.