Leading integrated architectural, design and build Turn-key solutions provider Uniply Industries Ltd. on Wednesday announced the signing of signed 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 ₹1,550 crore on a fully diluted basis,” a company statement said.
Markab Capital WLL, Kuwait and its their wholly-owned Indian subsidiary Markab India SPV Pvt. Ltd. will acquire 20.7% stake shareholding from Uniply chairman Keshav Kantamneni and his group entities at ₹82 a share, at a premium of 28% to the price of shares of company.
Shares of Uniply Industries Ltd. ended at ₹63.40 apiece up by 0.88% over previous close in BSE.
According to the deal, Kantamneni would hold 7% stake in the company and continue in key functional support role, the release said.
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.
On the deal, Markab Capital Chairman, Ahmad Al Omani said, “Markab Capital is delighted to enter the burgeoning Indian building solutions market with the acquisition of controlling stake in Uniply.”
“We have been tracking the delightful transformation of the business from a fledgling plywood manufacturer to a fast-growing integrated building solutions provider over the past five years,” he said.
The deal is a “one-of-its-kind” investment opportunity and would bring enormous business value for Uniply from extensive global relationships and portfolio companies, he added.
Uniply Industries Ltd, Chairman, Keshav Kantamneni said, “I welcome Markab Capital and Ahmad Al Omani as stakeholders and partners to the Uniply family”.
“Markab brings to the table a wealth of investment experience with small and mid-market companies around the world. Their hands-on approach to investing and proven track record will help strengthen the framework of growth at Uniply,” he said.
Uniply offers an entire gamut of services from architectural design and build, mechanical, electrical, plumbing, interiors and furniture.
Besides having presence in New Delhi, Pune, Bengaluru, Hyderabad, Chennai and Ahmedabad, Uniply has operations in Dubai and Malaysia, the release added.
