Polyplex Acquires 51% Stake in TechNova Printrite for ₹621 Crore
Polyplex Corporation Limited is acquiring a 51% stake in TechNova Printrite Products Private Limited for approximately ₹6,210 lakh (₹621 crore). The deal aims to enhance manufacturing and marketing synergies in the digital print media business. The acquisition is expected to conclude within three months. TechNova Printrite's DPM business had a turnover of ₹20,638 lakh in FY25.
The acquisition of a significant stake in another company, especially one with a relevant business line and substantial turnover, represents a material development that could significantly impact Polyplex's market position and future earnings.
The acquisition of a majority stake in TechNova Printrite is a strategic move expected to create synergies and strengthen Polyplex's product portfolio, indicating a positive development for the company's growth prospects.
Polyplex Corporation Limited has executed a Share Purchase Agreement (SPA) and a Shareholder's and Rights Agreement (SHRA) for the acquisition of a 51% equity share capital in TechNova Printrite Products Private Limited. The transaction documents were approved by the Board of Directors on March 25, 2026. TechNova Printrite is engaged in the manufacturing and marketing of polyester, paper, and textile-based substrates for digital print applications.
The turnover of TechNova Imaging's Digital Print Media (DPM) business, which has been carved out into TechNova Printrite, was ₹21,871 lakh in FY23, ₹21,425 lakh in FY24, and ₹20,638 lakh in FY25 (audited). The acquisition is aimed at achieving manufacturing and marketing synergies and strengthening Polyplex's value-added product portfolio for digital print applications.
The acquisition cost is approximately ₹6,210 lakh (INR 621 crore), subject to post-closing adjustments, based on a 100% enterprise value of ₹12,721 lakh. Polyplex will acquire 10,01,487 equity shares, representing 51% of the share capital. The acquisition is targeted to be completed within three months from the execution of the SPA, with the remaining 49% share capital held by the Continuing Sellers. The SHRA outlines the inter se rights and obligations, including the appointment of directors, with Polyplex having the right to nominate three directors and the Chairman, while the Continuing Sellers nominate two. A call/put option for the balance 49% share capital is exercisable between the end of three years and the fifth anniversary of the acquisition date. No governmental or regulatory approvals are required for this acquisition. The day-to-day operations of TechNova Printrite will be headed by its President, who will also be the head of Polyplex's Saraprint division.
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Polyplex Corporation Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. 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 Polyplex Corporation Limited. Read the original for the full detail.