Manjushree Technopak dual track: PAG emerges lead suitor for buyout even as promoter Advent mulls IPO
The ongoing dual track process for Advent International-backed Manjushree Technopak is fascinatingly poised as Asia-focused private equity firm PAG has emerged as the front-runner to buy out the top packaging solutions firm even as the US private equity promoter is still considering the IPO route, multiple industry sources in the know told Moneycontrol on the condition of anonymity.
The draft papers for the Manjushree Technopak IPO were filed more than two months back and the roadshows have begun, but now, Advent has also entered advanced discussions with PAG. Advent, which is looking to unlock value after entering the firm six years back, has evaluated both the routes for several months and will take a final call and opt for one based on desired valuations and timing, among other factors
