Creador weighs exit from Shriji Polymers; stake sale could value packaging firm at $400-500 million

A stake sale is being explored at Ujjain, Madhya Pradesh-based Shriji Polymers, a leading plastic packaging solutions provider to the global pharmaceutical industry, as Malaysian private equity firm Creador weighs a complete exit from the company, people familiar with the matter told Moneycontrol. "Creador picked up a significant minority stake in Shriji Polymers back in 2020 and is now exploring a complete exit following more than six years of investment. These are early days and the proposed sale process has not been formally launched," one of the persons said. According to a second person, "Depending on the valuations and the nature of discussions with potential suitors, it is possible that the promoter group may also look to dilute part of its stake.

If that happens, a controlling or majority stake may be available to the incoming investor. The targeted valuation is between $400 million and $500 million." "Investment bank JP Morgan has been mandated as the sell-side adviser for the deal. Shriji Polymers also has manufacturing units outside India, and strategic players, both domestic and overseas, as well as select private equity funds are expected to show interest," a third person added. The three persons spoke to Moneycontrol on the condition of anonymity. Email queries sent to Creador, Shriji Polymers and its promoters remained unanswered at the time of publication.