Renol Polychem Limited Completes Acquisition of Harmony Ply-Lam Limited
Renol Polychem Limited announced on March 25, 2026, that it has successfully acquired 39.98% equity shareholding in Harmony Ply-Lam Limited. As a result of this acquisition, Harmony Ply-Lam Limited has become an associate of Renol Polychem Limited.The acquisition is described as a strategic decision aimed at expanding Renol's vision for inorganic growth. The acquisition was completed for a price of 56.15 Rs. per share, involving a total consideration of 28,49,500 shares.
Harmony Ply-Lam Limited, incorporated on January 2, 2015, carries out business of all types and kinds of laminates sheet, solid surface sheets, particle boards, plywood sheets, insulated boards and other incidental products. The company is based in Rajkot, Gujarat, India.
The Acquiree Company reported a turnover of 3539712.54 Rs. Hundred for FY 2024-25, 3251305.32 Rs. Hundred for FY 2023-24, and 4,256,509.59 Rs. Hundred for FY 2022-23. The acquisition does not constitute a related party transaction and did not require governmental or regulatory approvals.
| 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; | 2nd January, 2015 |
| 3 | Business carried on by the company: | all types and kinds of laminates sheet, solid surface sheets, particle boards, plywoodsheets, insulated boardsandother 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: | 39.98% |
| 10 | Number of shares allotted: | 28,49,500 |
| 11 | Date of allotment: | 24 th March, 2026 |
| 12 | Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last3years 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 |
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