EPL Limited has secured approval from the Competition Commission of India (CCI) to merge Indovida India Private Limited with itself, marking a key step in the consolidation process. The approval, conveyed via a letter dated May 26, 2026, sanctions the Scheme of Amalgamation under Section 31(1) of the Competition Act, 2002. This regulatory clearance is essential for the merger, which aims to absorb Indovida India and its shareholders into EPL Limited on a going concern basis.

The Board of Directors of EPL Limited had initially approved the scheme on March 29, 2026, subject to necessary statutory and regulatory approvals. The filing was made under Regulation 30 of the SEBI LODR Regulations. The combination involves Indovida India Private Limited, EPL Limited, and Indorama Netherlands B.V., with the original notice submitted to the CCI on April 1, 2026.

Regulatory Approval Details

The CCI’s approval addresses the proposed combination under Sections 230 to 232 of the Companies Act, 2013. While the commission has conveyed its consent, the detailed formal order is yet to be issued. The scheme remains subject to other applicable provisions and rules framed under the Companies Act.

Key Parties Involved

The intimation to the stock exchanges was made by Onkar Ghangurde, Head - Legal, Company Secretary & Compliance Officer of EPL Limited. The company confirmed that the requisite details regarding the approval are enclosed in the filing. The merger will proceed as the company awaits the final order from the competition regulator.

EPL Limited has fixed May 29, 2026, as the record date to determine the eligibility of holders for the maturity proceeds of its Commercial Papers (CPs). The company informed the exchanges that the CPs, aggregating to an amount of ₹50 crore, are due to mature on June 1, 2026.

The securities were issued and allotted on March 2, 2026. This announcement is in accordance with the provisions of Chapter XVII of the SEBI Master Circular and the FAQs for the listing of Commercial Papers issued by the National Stock Exchange of India Limited and BSE Limited.

Details of the Commercial Papers

The company provided specific details regarding the issue, including the ISIN, issue date, maturity date, and the size of the issue.

The record date is crucial for identifying the shareholders entitled to receive the maturity proceeds on the due date. The company has requested the exchanges to take note of these details for the information and records of the investors.