KV Toys to Acquire 50% Stake in Play Panda for ₹45M, Marking Strategic Entry Into India’s Fast‑Growing Educational & STEM Toys Market

• Proposed acquisition to strengthen KV Toys' presence in the rapidly growing educational and STEM toys segment, combining Play Panda's product innovation capabilities with KV Toys' manufacturing and distribution strength 

KV Toys India Limited, one of India's leading toy makers with a strong Made-in-India range, has entered into a binding term sheet to acquire a 50% stake in Play Panda Private Limited, for a consideration of up to INR 45 million. The transaction, which remains subject to the execution of definitive agreements and customary closing conditions, marks KV Toys' strategic entry into the fast-growing educational and STEM toys segment. Once completed, the deal aims to combine Play Panda's product innovation capabilities with KV Toys' manufacturing and distribution strength.

Play Panda was started to make learning fun and easy for kids. Over the last few years it has built a solid name in educational toys. Its products focus on STEM-based learning and help children build creativity, problem-solving and critical thinking Play Panda products are available at Hamleys, Amazon, and other leading retail stores.

KV Toys already has strong manufacturing units and a wide distribution network across India. Play Panda brings design strength and a portfolio of learning-focused toys. Together, the two aim to grow faster and reach more parents looking for toys that teach while kids play.

Karan Narang, Director of KV Toys India Limited, said:

“The toy market in India is changing. More parents now want toys that combine learning with play. Educational and STEM toys are growing fast because families care about overall child development. This investment in Play Panda fits our long-term plan to expand into high-growth categories and keep building quality products for children. We’re excited about what both teams can do together.”

With this partnership, KV Toys will add more products that focus on hands-on learning and skill building. It also gets access to Play Panda’s existing range and customers, while Play Panda can use KV Toys scale to reach more cities and stores.

Tushar Saigal, Founder of Play Panda, said – This partnership marks an exciting new chapter for Play Panda. KV Toys' manufacturing scale and nationwide distribution network will allow us to bring our educational, DIY and STEM-focused toys to many more children across India. We've always believed that learning through play can shape how kids think and grow, and this collaboration gives us the platform to do that at a much larger scale," said Tushar Saigal Founder, Play Panda.

India’s educational and STEM toys market is growing quickly. Parents are more aware of experiential learning. Incomes are rising. And there’s more focus on building future-ready skills from an early age. This partnership puts both companies in stronger position to tap that demand and support the growth of India’s toy industry.

About KV Toys Limited

KV Toys Limited is India's leading toy manufacturer, serving millions of consumers through a diverse portfolio of innovative, safe, and affordable toys. Through its flagship brand QUCO and extensive retail partnerships, the company has established a strong presence across the domestic market. Backed by strong manufacturing capabilities and a commitment to Make in India, K V Toys is focused on building globally competitive toy brands for domestic and international markets.

About Play Panda -

Founded in India, Play Panda is an educational toy brand designed and manufactured to global quality standards. Its product range — including magnetic puzzles, brain games, alphabet magnets, and arts & crafts kits — is crafted to spark curiosity and build foundational skills in early learners through play. With safety, quality, and developmental value at its core, Play Panda is committed to bringing the best of Indian design and craftsmanship to children across the world. Play Panda — because great minds start with great play.