Uniply Industries has inked an agreement with Kuwait-based Markab Capital WLL, under which the latter would acquire a controlling stake in the company. The deal values Uniply Industries at an enterprise value of over Rs 1,550 crore on a fully diluted basis.
Markab Capital WLL, Kuwait and its wholly-owned Indian subsidiary Markab India SPV will acquire 20.7% stake shareholding from Uniply Industries chairman Keshav Kantamneni and his group entities at Rs 82 a share.
The transaction aims at leveraging the deep global relationships of Markab Capital and create a long-term value for shareholders by bringing value and global contracts into the execution fold of the incumbent teams at Uniply Industries.
Uniply Industries is engaged in the manufacture of plywood and other panel products.