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Asian Paints appoints Deepak Satwalekar as chairman of board
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Board of Asian Paints appoints Deepak Satwalekar as Chairman
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Asian Paints board approves appointment of Deepak Satwalekar as Chairman
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Asian Paints scion Malav Dani to sell shares worth ₹500 crore
January 03, 2021
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Malav Dani, son of paints tycoon Ashwin Dani, will off-load shares worth ₹500 crore on the stock exchanges between May 2021 and April 2022, according to statutory filings.
The Dani family is among the key promoter families of India’s largest paints manufacturer Asian Paints, which has a current market-capitalisation of over ₹2.66-lakh crore or $36 billion.
Malav holds 5.88 per cent stake in the company through his private investment arm, Sattava Holding and Trading. That stake is worth more than ₹15,000 crore or nearly $2 billion at the current price of ₹2,775 per share. In just nine months, Asian Paints share has seen 100 per cent appreciation from a low of ₹1,431 in March.