Polyplex Corporation has announced the acquisition of a 51% stake in TechNova Printrite Products Private Limited for approximately ₹6,210 lakh. This strategic move is aimed at enhancing Polyplex’s capabilities in the digital print media (DPM) sector.
Polyplex signed a Share Purchase Agreement and a Shareholder’s and Rights Agreement on 25 March 2026, marking a significant development for the company. The acquisition is expected to be completed within three months, subject to customary conditions.
TechNova Printrite, a private limited company, was incorporated on 23 April 2024. The company specialises in manufacturing and marketing polyester, paper, and textile-based substrates for digital print applications. The turnover of TechNova Printrite’s DPM business was ₹21,871 lakh in 2022-2023, ₹21,425 lakh in 2023-2024, and ₹20,638 lakh in 2024-2025.
The acquisition will be executed through a cash consideration, with the transaction based on a 100% enterprise value of ₹12,721 lakh. Polyplex will acquire 10,01,487 equity shares, constituting 51% of TechNova Printrite’s share capital.
Polyplex aims to achieve manufacturing and marketing synergies with TechNova Printrite, leveraging its proven manufacturing capabilities and global distribution network. This acquisition is expected to strengthen Polyplex’s value-added product portfolio for digital print applications.
No governmental or regulatory approvals are required for this acquisition, and the continuing sellers will retain a 49% shareholding in TechNova Printrite post-acquisition.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Yash Agarwal and reviewed by Markets Desk before publication.