Polyplex Corporation Limited has informed the Exchange about General Updates for completion of acquisition of 51% of the share capital of TechNova Printrite Products Private Limited by Polyplex Corporation Limited.
POLYPLEX · price
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Polyplex Corporation has completed the acquisition of 51% of the share capital of TechNova Printrite Products Private Limited (TPPPL) on April 30, 2026, the closing date. The total investment is approximately INR 6,209.75 lakhs, subject to post-closing adjustments per the Share Purchase Agreement. With this acquisition, TPPPL has become a subsidiary of Polyplex. The deal follows the Share Purchase Agreement and Shareholders' and Rights Agreement signed on March 25, 2026, after certain conditions precedent were fulfilled.
This acquisition expands Polyplex's footprint by adding TPPPL as a subsidiary, potentially contributing to future revenue and earnings. The investment of ~INR 62 crore is a meaningful but not transformational outlay, and investors should watch for integration updates and any incremental disclosures on TPPPL's financials going forward.