Asian Paints Buys Remaining 40% Stake In White Teak Parent For ₹1.88 Billion

Asian Paints Ltd. on Friday said it has acquired the remaining 40% stake in Obgenix Software Pvt. Ltd., which owns the White Teak brand, for ₹1.88 billion. The company bought 160,400 shares from promoters Pawan Mehta and Gagan Mehta, it said in a stock exchange filing.

With this deal, Asian Paints now holds full ownership of Obgenix Software. The company had first acquired a 49% stake in April 2022 and added another 11% in June 2023, under terms laid out in earlier agreements.