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.