Polyplex to acquire 51% stake in TechNova Printrite
As part of the deal, Polyplex will acquire 10,01,487 equity shares, for approximately Rs 6,210 lakh
26 Mar 2026 | 96 Views | By WhatPackaging? Team
Polyplex Corporation has announced the acquisition of a 51% stake in TechNova Printrite Products for approximately Rs 6,210 lakh (around Rs 62 crore), signalling a strategic push into the growing digital print media (DPM) segment.
The company executed a Share Purchase Agreement (SPA) and a Shareholders’ and Rights Agreement (SHRA) on 25 March 2026. The transaction values TechNova Printrite at an enterprise value of Rs 12,721 lakh for 100% equity, with the acquisition expected to close within three months, subject to customary conditions and post-closing adjustments.
As part of the deal, Polyplex will acquire 10,01,487 equity shares, representing a controlling 51% stake in the company. The remaining 49% will continue to be held by the existing promoters, ensuring continuity in operations and business expertise.
Incorporated in April 2024, TechNova Printrite specialises in the manufacturing and marketing of polyester, paper, and textile-based substrates used in digital print applications. Despite its recent incorporation, the business has demonstrated consistent performance, with reported turnover of Rs 21,871 lakh in FY23, Rs 21,425 lakh in FY24, and Rs 20,638 lakh in FY25.
The acquisition is aligned with Polyplex’s broader strategy to expand its presence in value-added and high-growth segments. The company aims to leverage TechNova Printrite’s established product portfolio alongside its own manufacturing scale and global distribution network to drive synergies across both production and market access.
Industry observers note that digital print media is witnessing increasing demand, driven by growth in signage, advertising, textiles, and customised packaging applications. By entering this segment through a majority stake, Polyplex is positioning itself to tap into these emerging opportunities while diversifying beyond its core polyester film business.
Notably, the transaction does not require any governmental or regulatory approvals, enabling a relatively smooth execution timeline.
With this acquisition, Polyplex is expected to strengthen its foothold in specialised substrate solutions, while enhancing its ability to offer integrated, value-added products to a wider global customer base.