ET NOW EXCLUSIVE: Dupont Eyes ION Exchange

In the age of heightened focus on environment sustainability the role of water has become quite precious, once such company ION Exchange has been buzzing a lot in-fact the stock has rallied about 25% in last 1-month alone. Ajaya Sharma learns that there is a potential deal brewing in the company , sources say that Global innovation giant Du Pont is in talks to acquire substantial stake in ION Exchange. The company is a leading name in R&D backed water treatment solutions space. Promoters currently hold 27% stake in the company and its this stake which DuPont is keen to buyout. Ion Exchange FY21 stood at revenues stood at Rs 1401cr while its PAT stood at Rs PAT 145cr and its currently sitting on a market capitalization of which means street is assigning is about 25x P/E multiple on FY21 reported numbers. As per sources EY is heard to be the advisor on the transaction. Du Pont is very keen to enhance its footprint in the water treatment & solutions space and IOC Exchange seems a good fit in that direction as per sources. In fact this transaction is being attempted via their Water Solutions arm itself. DuPont did 4 global buyouts in 2020 in water solutions sector in FY20. ION Exchange Mgmt when contacted on this story said “We do not comment on market speculation”. Apart from the promoters 27% stake other key shareholders in the company are Nippon AMC over 8.5%, Abakkus Fund at 2.5%,Mukul Agarwal at 1.5% and Plutus Wealth at 3.5%. Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com