JK Paper to acquire 72% stake in Borkar Packaging for ₹125.46 per share
The acquisition of a 72% stake in Borkar Packaging is a significant development, likely to have a moderate impact on JK Paper's operations and market position.
The acquisition is part of JK Paper's strategic objective and is expected to benefit the company's packaging business.
* JK Paper Ltd. will acquire a 72% stake in Borkar Packaging Private Limited (BPPL) for ₹125.46 per equity share of ₹10 each. * The acquisition includes 65.7% equity shares from existing shareholders and a subscription to fresh equity shares. * The purchase consideration for the 72% stake is subject to adjustments as per the Share Purchase Subscription and Shareholder's Agreement (SPSSHA). * BPPL's paid-up share capital is ₹21.25 crore. * BPPL's consolidated turnover for FY 2023-24 was ₹393.20 crore. * BPPL is in the packaging industry, manufacturing folding cartons and corrugated boxes. * The acquisition aligns with JK Paper's long-term strategic objective in the packaging business. * The transaction is expected to be completed within twelve weeks from the execution of the SPSSHA. * JK Paper will acquire the remaining 28% of equity shares within the next 4 years from the closing date, subject to conditions in the SPSSHA. * BPPL's consolidated turnover: ₹404.61 crore in FY 2022-23 and ₹369.16 crore in FY 2021-22.
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JK Paper Limited filed this with the NSE as a statutory disclosure, categorised under mergers & acquisitions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by JK Paper Limited. Read the original for the full detail.