Last one week high and low of the scrip stood at Rs. 135.90 and Rs. 130.80 respectively. The current market cap of the company is Rs. 4181.71 crore. The promoters holding in the company stood at 57.03%, while Institutions and Non-Institutions held 20.11% and 22.86% respectively. Blackstone has entered into a definitive agreement with Ashok Goel Trust to purchase a majority stake in Essel Propack (EPL). Ashok Goel Trust and its affiliates currently hold approximately 57% of EPL. Blackstone will pay a purchase price of Rs 134 per share to acquire a 51% shareholding from Ashok Goel Trust.
As per the Takeover Code in India, this transaction will trigger a mandatory open offer for a purchase of additional 26% shares of the company. The open offer price has been fixed at Rs 139.19 per share. Based on the open offer subscription, the purchase price consideration will vary between Rs 2,157 crore and Rs 3,211 crore (or, approximately $310 million – $462 million). Ashok Goel will retain a minority stake in the company. The sale is expected to complete in the coming months.
Essel Propack is a flagship company of the Essel group is a producer of plastic packaging material in the form of multilayer collapsible tubes and laminates used primarily for packaging of toothpaste, personal care, cosmetics, pharmaceuticals, household and industrial products.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
