Asian Paints has completed the acquisition of a 51% stake in Harind Chemicals and Pharmaceutical (Harind) from Aapex Power and Industries for a total consideration of ₹14.28 crore. As a result, Harind and its wholly owned subsidiary, Nova Surface-Care Centre, now operate as subsidiary companies of Asian Paints. As reported by Business standard, the acquisition process involves acquiring the second tranche of 19% and the third tranche of 20% from the current shareholders progressively in a staggered manner.
