EPL Limited and Indovida India Private Limited signed definitive merger agreements on March 29, 2026, creating a ~$1B revenue, ~$2B valuation packaging entity.
EPL is valued at INR 339/share (70% premium to Friday's close); Indorama Ventures to hold 51.8% co-promoter stake post-merger.
Merger is EPS accretive from Day 1, expanding 2025 EBIT margin from 12.4% to 13.6% and RoCE from 18.7% to 20.9%.
Transaction via scheme of amalgamation subject to shareholder, regulatory, and court approvals, expected to close in ~12 months.