JK Paper Limited has made a ₹235 crore acquisition of a majority stake in Borkar Packaging Private Limited, through a combination of primary infusion and secondary investment.
The transaction is split into multiple tranches, with the first tranche resulting in acquisition of 72% equity stake in Borkar Packaging for a consideration of ₹235 crore, and the subsequent tranches (to be completed within the next 4 years from the closing of the first tranche) cumulatively resulting in 100% acquisition of the Company.
Shardul Amarchand Mangaldas & Co advised JK Paper on this acquisition.
The transaction team was led by Nivedita Tiwari (Partner), along with Tweisha Mishra (Senior Associate) and Anushka Ganguli (Associate).
The due diligence was undertaken by a cross-functional team comprising Nivedita Tiwari (Partner), Devesh Pandey (Partner), Rohit Bajaj (Partner) Kriti Kaushik (Partner), Shridha Malhotra (Principal Associate), Tweisha Mishra (Senior Associate), Istuti Kapoor (Senior Associate), Associates Stuti Dhawan, Tryambica Singh, Abhimanyu Chattree and Yaggya Kapoor.
Clove Legal advised and represented Borkar Packaging the selling shareholders, being the Borkar family, on this transaction.
The transaction team consisted of Dharmesh Kotadia (Partner), Nupur Rustagi (Partner), and Associates Taniya Shah and Richa Rane.
The transaction is a part of JK Paper’s inorganic growth strategy to strengthen its capabilities in the folding cartons space and a step towards strengthening its position in the broader paper packaging landscape.
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