Renol Polychem Limited Acquires 51.00% Stake in Harmony Ply-Lam Limited
Renol Polychem Limited announced the successful acquisition of a 51.00% equity shareholding in Harmony Ply-Lam Limited on March 27, 2026. This acquisition makes Harmony Ply-Lam Limited a subsidiary of Renol Polychem Limited.The acquisition is described as a strategic decision aimed at expanding Renol’s vision for inorganic growth. The transaction involved a consideration of 56.15 Rs. per share, totaling 16,03,112 shares acquired, representing 11.02% of the total acquisition. The post-acquisition holding stands at 51.00%.
Harmony Ply-Lam Limited, incorporated on January 2, 2015, manufactures laminates, solid surface sheets, particle boards, plywood sheets, and insulated boards. The company operates in India and reported a turnover of 3,539,712.54 Rs. hundred in FY 2024-25, 3,251,305.32 Rs. hundred in FY 2023-24, and 4,256,509.59 Rs. hundred in FY 2022-23.
The acquisition complies with Section 179 (3) (e) & (j) and other applicable provisions of the Companies Act, 2013. No governmental or regulatory approvals were required for the acquisition.
| 1 | Name, address, website, if any and other contact details of the company indicating both registered office and corporate office; | Name: HARMONYPLY-LAM LIMITED Registered & Corporate Address.: Rev. Sur. No. 84/1, Ardoi, Kotda Sangani, Rajkot, Gujarat, India, 360030 Website: https://harmonylaminates.in Email ID: infohpl@harmonygroup.in |
|---|---|---|
| 2 | Date of incorporation of the Company; | 2 nd January, 2015 |
| 3 | Business carried on by the company: | Mfg. of all types and kinds of laminates sheet, solid surface sheets, particle boards, plywood sheets, insulated boards and other incidental products. |
| 4 | Whether the acquisition would fall within related party transaction(s): | No |
| 5 | Objects and effects of acquisition: | The acquisition is a strategic decision aimed at expanding Renol's vision for inorganic growth. |
| 6 | Brief details of any governmental or regulatory approvals required for the acquisition | Not required |
| 7 | Nature of consideration: | Cash |
| 8 | Cost of acquisition / price per share: | 56.15 (in Rs.) |
| 9 | Percentage of shareholding acquired and post-acquisition holding: | Percentage of shareholding acquired: 11.02% Post-acquisition holding: 51.00% |
| 10 | Number of shares allotted: | 16,03,112 |
| 11 | Date of allotment: | 27 th March, 2026 |
| 12 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3years turnover, country in which the acquired entity has presence and any other significant information (in brief) | Background about the Entity: The Acquiree Company is in this field since last 11 years. Harmony Ply-Lam Limited, carried out business of all types and kinds of laminates sheet, solid surface sheets, particle boards, plywood sheets, insulated boards and other incidental products. Date of incorporation: 2 nd January, 2015 |
| 12 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3years turnover, country in which the acquired entity has presence and any other significant information (in brief) | Turnover of last three years: FY 2024-25: 3539712.54 Rs. hundred, FY 2023-24: 3251305.32 Rs. hundred, FY 2022-23: 4,256,509.59 Rs. hundred |
| 12 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3years turnover, country in which the acquired entity has presence and any other significant information (in brief) | Country in which the acquired entity has presence: India Any other significant information: NA. |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.