EPL Limited to merge with Indovida India Private Limited
EPL Limited's Board approved the merger of Indovida India Private Limited. The combined entity's turnover was ₹4,568 crore and net-worth ₹1,717 crore as of Dec 31, 2025. Indovida India had ₹3,809 crore turnover and ₹6,459 crore net-worth. This merger aims for operational efficiencies and expanded product offerings.
A merger is a significant corporate action that will fundamentally alter the company's structure, operations, and market position, leading to a high impact.
The merger is expected to bring significant benefits such as a wider product range, geographical diversification, operational efficiencies, and cost savings, which are positive for the company's growth and stakeholder value.
EPL Limited announced today, March 29, 2026, that its Board of Directors has approved a scheme of amalgamation by way of merger by absorption of Indovida India Private Limited with EPL Limited. The merger will be on a going concern basis, subject to various statutory and regulatory approvals, including from the stock exchanges, SEBI, NCLT, and CCI.
The company also approved the execution of a Merger Implementation Agreement (MIA) with Indovida India and Indorama Netherlands B.V. (IVL), a Shareholders' Agreement (SHA) with Epsilon Bidco Pte. Ltd., Epsilon, and IVL, and a Transition Services Agreement (TSA) with IVL and Indorama Ventures Global Services Limited (IVGSL).
As of December 31, 2025, EPL Limited had a turnover of ₹4,568 crore and a net-worth of ₹1,717 crore. Indovida India had a turnover of ₹3,809 crore and a net-worth of ₹6,459 crore. The merger is expected to result in a wider range of products and services, geographical diversification, enhanced operational and financial efficiencies, cost savings, synergies, and improved organizational capability. The share exchange ratio involves the issuance of 286 equity shares of EPL Limited for every 10,000 equity shares held in Indovida India. The transaction is considered at arm's length, with valuations supported by independent reports and fairness opinions.
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EPL Limited filed this with the NSE as a statutory disclosure, categorised under merger. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by EPL Limited. Read the original for the full detail.