Reliance Industries has sold a large part of its stake in Asian Paints through a block deal worth Rs 7,703 crore. The company offloaded 3.5 crore equity shares at Rs 2,201 per share through its subsidiary, Siddhant Commercials.
In an exchange filing, Reliance stated, “Please note that 3.5 crore equity shares of Asian Paints, held by Reliance Industries through Siddhant Commercials, have been sold today at a price of Rs 2,201 per share, leaving a balance of 87 lakh equity shares of Asian Paints.”
Deal worth Rs 7,703 crore executed in pre-market window
The transaction, executed in the pre-market block window early in the morning, saw as much as 3.64 per cent of Asian Paints’ equity change hands. The total value of the deal stands at around Rs 7,703 crore. The buyers involved in the transaction are expected to be disclosed later in the evening.
Reliance now holds 87 lakh Asian Paints shares
As of the March 2025 quarter, Siddhant Commercials held a 4.9 per cent stake in Asian Paints. With this sale, Reliance has now reduced its holding to just 87 lakh shares, representing less than one per cent of the company’s total equity.
Among other major shareholders in Asian Paints, domestic mutual funds held a 5.67 per cent stake as of March 31. Notably, ICICI Prudential held 1.24 per cent and SBI Mutual Fund owned 1.51 per cent. Life Insurance Corporation of India (LIC), the country’s largest insurer, is also the biggest public shareholder in the paint company with an 8.29 per cent stake.
Retail participation remains strong, with over 11.73 crore small shareholders—each with share capital up to Rs 2 lakh—together owning 11.84 per cent of Asian Paints.
SBI Mutual Fund buys 3.6% stake in Asian Paints
SBI Mutual Fund, one of India’s largest asset management companies, single-handedly cut a cheque of Rs 7704 crore ($900 million) to buy a 3.6% block of Asian Paints on the same day. The transaction, executed under the symbol ASIANPAINT, making SBI Mutual Fund one of the larger shareholders of Asian Paints.
Asian Paints share price
Despite the large-scale offloading, Asian Paints shares held firm through the day. The stock ended with gains of 0.7 per cent at Rs 2,225, though it was off the day’s high.
The share price of Reliance Industries, on the other hand, saw a decline. The stock opened at Rs 1,456 and closed at Rs 1,439, touching an intraday low of Rs 1,434.9.