JK Paper shines on acquiring majority stake in Horizon Packs and Securipax Packaging
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JK Paper is currently trading at Rs. 425.00, up by 4.95 points or 1.18% from its previous closing of Rs. 420.05 on the BSE.
The scrip opened at Rs. 427.75 and has touched a high and low of Rs. 435.90 and Rs. 424.00 respectively. So far 37343 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 449.95 on 17-Aug-2022 and a 52 week low of Rs. 192.00 on 20-Dec-2021.
Last one week high and low of the scrip stood at Rs. 435.90 and Rs. 418.10 respectively. The current market cap of the company is Rs. 7115.75 crore.
The promoters holding in the company stood at 49.63%, while Institutions and Non-Institutions held 10.51% and 39.85% respectively.
JK Paper has entered into Share Purchase and Shareholders’ Agreements (SPSHAs) for the acquisition of 85% shares of Horizon Packs (HPPL) and Securipax Packaging (SPPL), and the balance 15% within a period of 3 years as per the respective SPSHAs.
HPPL and SPPL together are India’s largest Corrugated Packaging manufacturers with seven plants across the country. In FY 2021-22, HPPL and SPPL had a consolidated Revenue of Rs 832 crore. Corrugated Packaging is a rapidly growing segment in the Indian Paper & Packaging industry driven by growth in end-use industries such as Food & Beverage, FMCG, etc.
JK Paper is one of the most respected paper companies in India today.
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