Nippon India Mutual Fund increased its stake in Kansai Nerolac Paints Limited from 1.98% to 2.67%, acquiring 5,601,171 additional shares.
A leading paint manufacturer in India, Kansai Nerolac produces decorative and industrial coatings for diverse applications across multiple sectors. The company specializes in industrial coatings, serving construction, automotive, infrastructure, and marine industries with tailored solutions. Operating since 1920, it maintains a strong national presence with manufacturing facilities and distribution networks, focusing on quality formulations and customer-specific coating requirements.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.
