An unknown buyer entered a binding term sheet to acquire a 24.27% stake in Polyplex Corporation Limited (BSE:524051) from its promoters group for INR 13.9 billion on May 23, 2023. The promotor group includes Mahalaxmi Trading & Investment Co. Ltd., Secure Investments Ltd, Utkarsh Trading & Holdings Ltd, Bhilangana Hydro Power Limited, Sakhi Saraf, Amla Saraf, and Sanjiv Saraf. The buyer also entered into options to acquire additional stake. As of October 3, 2023 Investors along with promoters executed (i) shareholders? agreement; (ii) share purchase agreement and (iii) call and put option agreement. Goldman Sachs was acting as exclusive financial advisor to shareholders of Polyplex.

An unknown buyer completed the acquisition of a 24.27% stake in Polyplex Corporation Limited (BSE:524051) from its promoters group on November 9, 2023.