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           41 3 •11

K Paper to

cquire Manipal

tility Packaging

olutions for

90 crore

TI ¦ NEW DELHI

K Paper Ltd on Monday said 
t will fully acquire Manipal 
ility Packaging Solutions Pvt
td for nearly Rs 90 crore 
 The company has entered 
nto a share purchase agreement 
SPA  for the acquisition of 100 
er cent shares of Manipal 
tility Packaging Solutions Pvt 
td  MUPSPL   JK Paper said in 
 regulatory filing 
 Under the SPA  JK Paper 
ill acquire 4 07 crore equity 
hares representing 100 per cent 
f capital of MUPSPL at Rs 21 80 
er equity share of Rs 10 each  
ubject to adjustments as per 
erms of agreement  it added 
 The acquisition is expected 
o be completed within six 
eeks of execution of the SPA 
 span id  green  data-id  2155  style  color  000 font-size 15px background-color green  ith  span  the target entity and its pro-m
oters shareholders  subject to 
ulfilment of conditions men- 
ioned in the SPA  the compa- 
y said 
 JK Paper Vice Chairman 
nd Managing Director Harsh 
ati Singhania said   This acqui- 
ition is in line with the long- 
erm strategic objective of the 
ompany in the packaging busi- 
ess and gives us an opportuni- 
y to offer combined solution to 
he customers with respect to 
econdary and tertiary packag- 
ng  improve operational effi- 
iencies and ensure that MUP- 
PL grows and adds value to 
takeholders 
 MUPSPL is engaged in the 
usiness of manufacturing pack- 
ging products like folding car- 
ons  corrugated boxes and labels 
 span id  green  data-id  2155  style  color  000 font-size 15px background-color green  ith  span  four manufacturing plants 
cross India  It had a revenue of 
s 147 77 crore in FY 2022-23  
he company said 
 Packaging business is 
mongst the fastest growing 
egments in the Indian paper 
nd packaging industry driven 
y growth in end use industries 
uch as food and beverage  and 
MCG  it added
Record : 1 / 1
