iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

JK Paper buys majority stake in Horizon Packs and Securipax Packaging; stock climbs ~3%

22 Nov 2022 , 09:21 AM

JK Paper entered into Share Purchase and Shareholders’ Agreements (SPSHAs) to acquire an 85% stake in Horizon Packs Private Ltd. (HPPL) and Securipax Packaging Private Ltd. (SPPL), and the remaining 15% stake over a three-year period.

With 7 plants across the country, HPPL and SPPL are India’s largest Corrugated Packaging manufacturers. HPPL and SPPL had a combined revenue of Rs832 crore in FY 2021-22. Corrugated packaging is a rapidly growing segment of the Indian paper and packaging industry, driven by growth in end-use industries such as food and beverage, FMCG, and so on.

Harsh Pati Singhania, Vice Chairman and Managing Director of JK Paper Ltd., said on the occasion, “It is a privilege to join hands with India’s largest player in the Corrugated Packaging segment. This, along with JK Paper’s upcoming corrugated facility in Ludhiana, will position the company as the dominant player in the corrugated packaging industry.”

The purchase consideration for the acquisition of an 85% stake has been fixed at Rs19.33 per share for HPPL and Rs1256.95 crore per share for SPPL, subject to adjustments as per terms of respective SPSHAs. The company will be acquiring 26.92 crore equity shares of HPPL and 4.63 lac equity shares of SPPL, representing 85% of Capital.

Therefore, the total consideration will be Rs520.36 crore for HPPL and Rs58.20 crore for SPPL.

At around 9.18 AM, JK Paper was trading at Rs433.70 up by 3.25% from its previous closing of Rs420.05 on the BSE. The scrip opened at Rs427.75.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • JK Paper
  • JK Paper Acquisition
  • JK Paper news
  • JK Paper Share
  • JK Paper Updates
  • Paper & Packaging News
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Oil prices hold firm despite mixed signals
17 Jul 2024|10:51 AM
Dollar weakens on Fed cut expectations
17 Jul 2024|09:54 AM
Sensex and Nifty end in green
16 Jul 2024|04:34 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.