JK Maxx Paints Ltd (JKMPL), a subsidiary of JK Cement Ltd, has acquired an additional 20% stake in Acro Paints Ltd for Rs 60.24 crore. With this acquisition, JKMPL now holds an 80% stake in Acro Paints Ltd, as last year, the company acquired a 60% stake for Rs 153 crore.

Acro Paints Ltd is a manufacturer of architecture and high-performance paints and coatings. The company has two manufacturing facilities that are currently expanding capacity and are scheduled to be completed by Q2FY24.

Last month, JK Cement said it plans to acquire a 100% stake in Toshali Cements Private Ltd for Rs 157 crore to expand its footprint into the eastern region.

At 9:20 am, the stock of JK Cement Ltd was trading at Rs 3,399 a piece on NSE.