JK Paper Ltd to Acquire Borkar Packaging Private Limited for Rs. 125.46 Per Equity Share

JK Paper Ltd has announced the acquisition of Borkar Packaging Private Limited (BPPL) for a purchase consideration of Rs. 125.46 per equity share. The acquisition, which does not fall under related party transactions, is in line with the company's long-term strategic objective in the Packaging business. BPPL, incorporated in 1994, is engaged in the business of manufacturing Folding Cartons and Corrugated boxes. The acquisition will include 1.87 crore equity shares, representing 72.0% of BPPL's paid-up capital, with the remaining 28.0% expected to be acquired within the next 4 years. BPPL's consolidated turnover for the preceding three financial years was Rs. 393.20 crore in FY 2023-24, Rs. 404.61 crore in FY 2022-23, and Rs. 369.16 crore in FY 2021-22.