Polyplex Corporation Limited has informed the Exchange about Acquisition
POLYPLEX · price
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Polyplex Corporation has signed agreements on March 25, 2026 to acquire a 51% stake in TechNova Printrite Products Private Limited for a cash consideration of about INR 6,210 lakh, valuing 100% of the company at INR 12,721 lakh. TechNova Printrite was recently carved out of TechNova Imaging Systems via an NCLT scheme and runs a Digital Print Media (DPM) business, making polyester, paper, and textile-based substrates with turnover of around INR 20,000-22,000 lakh in each of the last three years. The acquisition is aimed at creating manufacturing and marketing synergies with Polyplex's existing Saraprint division and strengthening its value-added product portfolio for digital print applications. The deal is expected to close within three months, with the remaining 49% to be held by the Continuing Sellers, who have put/call options exercisable between years 3 and 5.
This is a strategic bolt-on acquisition in Polyplex's core DPM segment using cash on hand, so it should strengthen the existing Saraprint business without straining the balance sheet significantly. For shareholders, the deal expands Polyplex's downstream product capabilities and offers a future pathway to full ownership via the call option on the remaining 49%.