AGI Greenpac Limited (BSE:500187) signed a letter of intent to acquire Hindusthan National Glass & Industries Limited (BSE:515145) on October 28, 2022. As per terms, AGI Greenpac offered INR 18.2 billion upfront and INR 3.6 billion as deferred payment to lenders, and INR 60 million payment to employees and trade creditors to acquire Hindusthan National Glass & Industries Limited. 98% of lenders of Hindusthan National Glass & Industries voted in favor of the plan presented by AGI Greenpac.

The closure of aforesaid transaction is subject to obtaining necessary regulatory approvals from Competition Commission of India, NCLT Kolkata and other customary approvals, filings, and processes. As on March 15, 2023, Competition Commission of India has approved the transaction.