Asian Paints, the largest paint company in India, witnessed a rise in share price on Wednesday after it announced that BIL has completed the aforesaid Acquisition for a consideration of USD 18.95 million (appx. Rs 1.17 billion) in cash. Certain regulatory approvals are pending from the governing authorities in Ethiopia in relation to the said acquisition.

Kadisco is one of the leading paint companies in Ethiopia and is engaged in the manufacturing and selling of decorative paints, industrial paints, automotive paints, other coatings and adhesives in Ethiopia.

Shares of Asian Paints are trading at Rs 833.70, up Rs 12, or 1.46% at the Bombay Stock Exchange (BSE) on Wednesday at 9:50 a.m.

The scrip has touched an intra-day high of Rs 836.70 and low of Rs 829.90. The total volume of shares traded at the BSE is 52,779.