Blackstone exits EPL, sells entire 26.38% stake for ₹2,032 crore

Blackstone has sold its full stake in Mumbai-based packaging supplier EPL Ltd. The exit comes ahead of EPL’s proposed merger with Indovida India, a deal expected to create a $1 billion-revenue PET packaging business in which Indorama Ventures would hold 51.8%.

— Source publishedWed, 2 Sept, 2026, 10:44 IST·First seen Wed, 2 Sept, 2026, 10:45 IST·Source Outlook Business

What happened

EPL Ltd · Blackstone exited Mumbai-based packaging supplier EPL, selling its full 26.38% stake for ₹2,032 crore. The sale comes ahead of EPL’s proposed merger

Key facts

  • Blackstone sold its entire 26.38% stake in EPL
  • 8,44,79,781 shares sold
  • Transaction value: ₹2,032.33 crore
  • Average sale price: ₹240.57 per share
  • Quant Mutual Fund bought 4.48% for ₹345.07 crore
  • EPL shares closed 8.47% lower at ₹239.90
  • Proposed merger aims for a $1 billion revenue entity valued at $2 billion
  • Indorama Ventures is slated to hold 51.8% in the merged entity

Why this matters

The stake sale removes a major financial sponsor ahead of a merger designed to create a roughly $1 billion-revenue PET packaging company, potentially simplifying control and integration planning.

What to watch

  • Formal merger scheme filing and stated completion date.
  • Merger exchange ratio, fairness opinion and minority-shareholder response.
  • Competition, stock-exchange, tribunal and other regulatory clearances.
  • Indorama Ventures' funding commitment and confirmation of its 51.8% ownership.
  • Quarterly EPL volume growth, margins and customer retention during the transition.
  • Any disclosure of block-sale buyers, promoter/strategic stake changes or further large secondary transactions.
  • Disclose the identity and concentration of buyers in Blackstone's block sale and any resulting changes in public shareholding.
  • Advance merger documentation, including valuation, share-swap or consideration structure, governance rights and timetable for shareholder and regulatory approvals.
  • Outline integration plans for PET packaging capacity, procurement, customer cross-selling and plant rationalization.
  • Communicate post-merger capital allocation, leverage, dividend policy and any expansion spending needed to pursue the $1 billion revenue target.