EPL Limited and Indovida India Private Limited have announced a merger that will create a major player in the consumer packaging industry, with a combined valuation of approximately $2 billion and annual revenues nearing $1 billion.
The deal, which has already been approved by the boards of both companies, is currently subject to regulatory and shareholder clearances. As part of the agreement, EPL shares have been valued at ₹339 each—representing a significant premium of around 70% over their recent closing price.
The merger will combine EPL’s expertise in flexible packaging with Indovida’s strengths in rigid PET packaging, resulting in a diversified portfolio capable of serving a wide range of consumer brands. A substantial portion—nearly 75%—of the merged entity’s business is expected to come from fast-growing emerging markets.
Leadership continuity is a key feature of the integration. Hemant Bakshi will continue as Group CEO of the combined organization, while Sunil Marwah, CEO of Indovida, will lead the Indovida division and report directly to Bakshi.
The companies expect the merger to enhance their global footprint, streamline operations, and improve efficiency. Synergies in procurement and supply chain management, along with optimized resource utilization, are anticipated to drive cost savings.
From a financial standpoint, the combined entity is projected to achieve improved operating margins and higher returns on capital, strengthening its long-term growth prospects.