UK Paints (India) Private Limited, a key promoter entity of Berger Paints India Limited, has informed stock exchanges that it will acquire an additional 14.48 per cent stake in the paint major as part of an internal restructuring of the promoter group.

In a regulatory filing on Monday, the company said the restructuring involves the acquisition of 16,87,88,138 equity shares of Berger Paints from Jenson & Nicholson (Asia) Limited. The transfer is scheduled to take place on or after December 29.

Upon completion of the transfer, UK Paints (India) Private Limited’s direct shareholding in Berger Paints India will increase from 50.09 per cent to 64.57 per cent.

The company clarified that there will be no change in the aggregate shareholding of the promoter and promoter group, and the transaction will be executed at nil consideration.

UK Paints said the restructuring is aimed at rationalising and simplifying the existing group structure by reducing the number of legal entities and jurisdictions.

The consolidation is expected to lower regulatory compliance and administrative costs, while enabling more effective monitoring of assets at the ultimate holding company level.

The filing stated that the proposed acquisition is exempt from open offer obligations under Sebi takeover regulations.

Berger Paints scrips at ₹541.85 were up 0.75 per cent at the BSE on Monday.