Oricon Enterprises Limited has announced that it has entered into a Business Transfer Agreement (BTA) with Guala Closures (India) Private Limited to sell its business of manufacturing, trading, and sale of metal crown seals and roll-on pilfer-proof (ROPP) closures, located at MIDC Murbad, Thane, Maharashtra. The sale will be executed by way of a slump sale on a going concern basis, subject to shareholder and regulatory approvals.
The transaction carries an enterprise value of ₹42.5 crore, payable on completion and subject to closing adjustments. The deal is expected to be completed by December 7, 2025, or such other date as mutually agreed, contingent on fulfillment of conditions outlined in the BTA.
In the financial year ended March 31, 2025, the business being divested contributed a turnover of ₹110.46 crore (20.75% of Oricon’s revenue) and a net worth of ₹44.12 crore (5.46% of total net worth). The buyer, Guala Closures (India) Pvt. Ltd., headquartered in Panaji, Goa, is part of the global Guala Closures Group, a leading manufacturer of bottle closures.
Explaining the rationale, Oricon Enterprises said the slump sale would allow the company to capitalize on its business and pursue new growth opportunities, while Guala Closures India will further strengthen its foothold in the closures segment in the country.
About Oricon Enterprises Limited
Oricon Enterprises is engaged in diverse businesses including metal crown seals, ROPP closures, collapsible tubes, real estate, trading, and investments