EPL Limited is merging with Indovida India to enhance synergies, expand product offerings, and boost operational efficiency.

Indovida India reported a turnover of ₹3,809 Cr and net-worth of ₹6,459 Cr, while EPL had a turnover of ₹4,568 Cr and net-worth of ₹1,717 Cr (Dec 2025). Indovida India shareholders will receive 286 EPL shares (FV ₹2) for every 10,000 Indovida India shares (FV ₹10). This merger will significantly increase promoter stake from 25.97% to 68.37%, leading to dilution for existing public shareholders.

The deal awaits regulatory and shareholder approvals.