JK Paper Limited — Updates, 13-12-2024: Press Release

The Board of Directors of JK Paper Ltd has approved a Composite Scheme of Arrangement aimed at consolidating its operations by merging three wholly owned subsidiaries engaged in packaging products into JKPL. This restructuring will enhance operational efficiencies and streamline processes, thereby improving customer service. Additionally, JK Paper has entered into a Share Purchase and Shareholders’ Agreement for a majority stake acquisition in Radhesham Wellpack Private Limited (RWPL), purchasing 60% upfront and the remaining 40% within two years. This move aligns with JKPL’s strategic goal to strengthen its packaging business, especially amid the growth in the corrugated packaging sector in India. The integration is expected to be completed within 12 months, pending regulatory approvals. Positive outlook anticipated as these initiatives are expected to bolster JK Paper’s presence in the market and drive growth.