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JK Paper gains 1% on board approval to acquire Manipal Packaging Solutions

Oct 17, 2023

By: BlinkX Research Team

JK Paper has entered into Share Purchase Agreement (SPA) for the acquisition of 100% shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL).

As per the filing, MUPSPL is engaged in the business of manufacture of Packaging products like Folding Cartons, Corrugated Boxes and Labels with four manufacturing plants across the country and had a revenue of Rs 147 .77 crore in FY 2022-23. 

MUPSPL's customers, employees, vendors and partners will benefit from JK Paper's strong knowledge of manufacturing, and its high standards in operational excellence, financial management and corporate governance.

At around 11:14 AM, shares of JK Paper were trading at Rs 400.65 per share higher by 1.05% on the BSE.