EPL Limited’s shares fell over 3% after its Board of Directors approved a major transaction involving promoter Epsilon BidCo Pte. Ltd. and Indorama Netherlands B.V. As part of the agreement, Epsilon will offload a 24.90% stake in EPL, translating to 7,94,94,085 equity shares, to Indorama for ₹1,907.86 crore at ₹240 per share.
This significant deal is subject to regulatory approvals, including clearance from the Competition Commission of India (CCI). Following the transaction, Indorama will gain minority protection rights, covering key business decisions such as capital structure modifications, mergers, and demergers. Additionally, Indorama will have the authority to appoint one nominee director to EPL’s board and committees, pending necessary approvals.
Despite this sale, Epsilon will retain its promoter status with a 51.45% stake in EPL. Indorama, a new entrant, previously held no stake in the company.
EPL shares opened at 234.37, reaching a high of 236.00 and a low of 229.50. The stock remains volatile, with a 52-week high of 289.90 and a low of 169.60.
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