EPL Limited to Merge with Indovida India, Forming Packaging Firm

EPL Limited will absorb Indovida India Private Limited in an amalgamation that swaps 286 ₹ 2‑face‑value shares for every 10,000 ₹ 10‑face‑value shares, creating a combined packaging group with roughly ₹ 8,377 cr in turnover and a 68.37 % promoter‑controlled shareholding.

• Deal mechanics: EPL issues 286 fully paid‑up shares (₹ 2 each) for every 10,000 shares (₹ 10 each) held by Indovida shareholders; the merger aims to broaden product lines and geographic reach.
• Scale of the combined entity: Combined turnover of about ₹ 8,377 cr (EPL ₹ 4,568 cr + Indovida ₹ 3,809 cr) and net‑worth of roughly ₹ 8,176 cr (EPL ₹ 1,717 cr + Indovida ₹ 6,459 cr).
• Shareholding shift: Pre‑merger promoters held 25.97 %; post‑merger promoters will own 68.37 % (34,87,01,552 shares) while the public’s stake falls to 31.63 % (16,13,35,842 shares).
• Related‑party influence: Indorama Netherlands B.V. currently owns 24.44 % of EPL and 99.99 % of Indovida; it will become a promoter after the merger and can appoint at least three directors, while Epsilon gets one director seat.
• Transition services: Indorama affiliate IVGSL will support integration for 5‑10 years at capped fees of USD 1.03 million (Part A) and USD 1.37 million (Part B).