Blackstone Group Exits EPL Ltd; Sells Entire 26.38% Stake For ₹2,032 Crore

The Blackstone Group has exited EPL Ltd by divesting its entire 26.38 per cent stake in the packaging company for ₹2,032 crore through an open market transaction on Tuesday.

US-based Blackstone, through its affiliate Epsilon Bidco Pte Ltd, offloaded a total of 8,44,79,781 shares, representing a 26.38 per cent stake in Mumbai-based EPL Ltd (formerly Essel Propack), according to the bulk deal data on the NSE.

Epsilon Bidco Pte Ltd was the promoter of packaging company EPL Ltd (formerly Essel Propack Ltd).

The shares were disposed of at an average price of ₹240.57 apiece, taking the combined transaction value to ₹2,032.33 crore.

Meanwhile, the shares were picked up by a clutch of domestic mutual funds, insurers, asset managers, and foreign investors.

A total of 3,37,05,174 shares, amounting to a 10.52 per cent stake in EPL, changed hands in identified purchases.

At the end of the June quarter, Epsilon Bidco Pte Ltd held a 26.38 per cent stake in EPL Ltd, shareholding data showed with the exchange.

Quant Mutual Fund emerged as the biggest buyer in Tuesday's transaction, picking up more than 1.43 crore shares, or 4.48 per cent, in two tranches at ₹240.10-240.93 apiece, taking the aggregate transaction value to ₹345.07 crore.

The purchase has lifted Quant's holding in EPL to 6.95 per cent from 2.47 per cent.

Other buyers included mutual funds managed by ICICI Prudential, Edelweiss, Bandhan, 360 One Group and Aditya Birla Sun Life Insurance Company, which together acquired over 1.3 crore shares, representing a 4.07 per cent stake, for ₹313.34 crore.

Foreign investors also participated in the transaction.

Canadian Crown corporation Public Sector Pension Investment Board acquired shares worth ₹85 crore, while Abu Dhabi Investment Authority bought shares for ₹66 crore.

Details of other buyers of EPL's shares could not be identified on the exchange.

Shares of EPL Ltd plunged 8.47 per cent to close at ₹239.90 apiece on the NSE.

The stake sale comes amid EPL's proposed merger with Indovida India Pvt Ltd, a rigid PET packaging platform, announced in March this year, to create a $1 billion revenue entity with a combined valuation of $2 billion.

Under the proposed merger, Indorama Ventures will become a promoter holding a 51.8 per cent stake, while Blackstone is slated to own 16.6 per cent in the merged entity.

Indorama Ventures had acquired a 24.9 per cent stake in EPL in May 2025.