InvestorQ : Is the Saraf family getting out of their holdings in Polyplex altogether and what does this mean for the stock?
Aashna Tripathi made post

Is the Saraf family getting out of their holdings in Polyplex altogether and what does this mean for the stock?

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Aditi Sharma answered.
3 weeks ago
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You are right. In fact, Sanjiv Saraf and his family will hive off their promoter holding in Polyplex Corporation for a consideration of over Rs.1,500 crore. Polyplex is into flexible packaging, which has gained a lot of traction in recent times with the pandemic shifting the focus to quality of packaging. The promoters are likely to get a premium in the backdrop of rising demand for packaging films, coatings and insulation products.

The Saraf family currently holds a 50.97% stake as promoters in Polyplex. At the current stock price, the stake is valued at Rs.1,400 crore, but most likely the bulk stake will command a decent premium. The advantage is the Polyplex is an integrated end-to-end player with capabilities in metallizing, holography, silicone coating and extrusion coating. Nearly 75% of its products are used in food packaging and for healthcare products.

Goldman Sachs has been appointed by the promotes to scout for buyers. The company currently operates across over 75 countries in the world.

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