JK Maxx Paints Ltd (erstwhile JK Paints and Coatings Limited), wholly owned subsidiary of the company, has at third tranche invested an amount of Rs. 53.31 crore towards the acquisition of balance 20% equity shares of Acro Paints Ltd. (APL).

Consequent upon the present acquisition, JK Maxx Paints Ltd has acquired 100% equity share capital of APL, Accordingly APL has become wholly owned subsidiary of JK Maxx Paints Ltd with immediate effect.

The acquisition facilitated commercial presence of the Company in the Paint & construction chemicals business segment.