JSW Paints eyes 4, 5-year debt to refinance acquisition-led funding, bankers say

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The proceeds of the latest debt issuance are likely ‌to be used for the refinancing ​of an earlier fundraise the company put towards its acquisition ⁠of Akzo Nobel India last year

By Reuters

Updated - October 22, 2026 at 02:58 PM. | Mumbai

India's JSW Paints is likely to ​raise funds through issuance of bonds ‌maturing in four years and five ​years and should go ⁠ahead with the sale in the next couple of weeks, two merchant bankers ‌with direct knowledge of the matter said on Thursday.

The company ‌could look to raise around ‌30 ⁠billion rupees ($316.56 million), the ⁠bankers said.

The proceeds of the latest debt issuance are likely ‌to be used for the refinancing ​of an earlier fundraise the company put towards its acquisition ⁠of Akzo Nobel India last year, the bankers added.

In November 2025, JSW ‌Paints had raised 33 billion rupees through sale of five-year bonds, which were directly placed with large foreign banks and foreign investors. These bonds had a put option ‌at the end of a year.

Indian companies ​have been turning to the bond market to fund acquisitions ⁠in recent months, driven by robust ⁠demand from investors that's contributing to what may become a ‌record year for corporate debt issuance in the country.

Published on October 22, 2026

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