Polyplex Corporation to Acquire 51% Stake in TechNova Printrite for Manufacturing and Marketing Synergies

Polyplex Corporation Ltd. has approved the acquisition of 51% of the share capital of TechNova Printrite Products Private Limited. The acquisition is aimed at achieving manufacturing and marketing synergies between TechNova Printrite and Polyplex, and to strengthen the value-added product portfolio for digital print applications. TechNova Printrite, a private limited company, is engaged in Digital Print Media (DPM) business which comprises of manufacturing and marketing of polyester, paper and textile based substrates used for digital print applications in various industries. The turnover of the DPM business of TechNova Imaging is approximately 21,871 INR lakh (unaudited financial statements) for the financial year 2022-2023.