CCI Approves Merger Of Indovida India Into EPL Limited

28 May 2026 CW Team

The Competition Commission of India (CCI) has approved the merger of Indovida India Private Limited (Indovida India) with and into EPL Limited (EPL). The approval covers an absorption structure under which EPL, as the post-merger resultant entity, will issue and allot shares on a proportionate basis to the shareholders of Indovida India in consideration of the combination. The decision was communicated in a short release from the regulator.

Indovida India is a newly incorporated Indian entity and a wholly owned subsidiary of Indorama Netherlands BV (INBV), and both entities form part of the group comprising Indorama Ventures Public Company Limited (IVL) and its affiliates, collectively referred to hereafter as IVL Group. IVL Group operates globally across fibres, packaging, recycling and speciality chemicals. The merger forms part of an internal reorganisation within the IVL Group and does not, in the release, purport to change the broader strategic footprint of the group.

EPL is a public listed company in India engaged in the manufacture and sale of packaging products and related solutions. Under the proposed combination EPL will absorb Indovida India and undertake the allotment of shares to effect the transfer of ownership to the post-merger entity. The release noted that the allotment will be proportionate to existing holdings in Indovida India.

The Commission indicated that a detailed order will follow, setting out the rationale and any conditions attached to its approval. The release did not disclose operational or financial metrics such as capacities, revenues or timeline for implementation. Market participants and stakeholders were advised to await the formal order for further particulars.

The regulator's clearance signals the completion of a necessary statutory step for the internal consolidation within IVL Group. Further disclosures are expected when the detailed order is published.

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