JK Paper Ltd. is set to acquire a 72% stake in Borkar Packaging Pvt. Ltd. for Rs. 235 Crore, enhancing its presence in the Indian packaging industry.
Information on the Target
JK Paper Ltd. has announced its intention to acquire a 72% stake in Borkar Packaging Pvt. Ltd. for approximately Rs. 235 Crore in cash. This acquisition involves the purchase of 65.7% of existing shareholders' stakes and subscribing to new equity shares for the remaining 6.3%. The remaining 28% stake will be acquired over the next four years. Various media outlets estimate Borkar Packaging's enterprise value, inclusive of debt, to be between Rs. 350 Crore and Rs. 450 Crore.
Borkar Packaging Private Limited, founded in 1994, is a premier Indian manufacturer specializing in folding cartons, corrugated boxes, and labels. The company operates seven manufacturing plants located in Goa, Pune, Daman, Himachal Pradesh, Kolkata, and Puducherry, serving a range of esteemed clients such as Unilever, Nestlé, Colgate, Dabur, Alkem Laboratories, and Indoco Remedies.
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Industry Overview in India
The packaging industry in India is experiencing rapid growth, propelled by increased demand from various sectors, including FMCG, pharmaceuticals, and electronics. As consumer habits evolve and sustainability becomes
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JK Paper Ltd.
invested in
Borkar Packaging Pvt. Ltd.
in 2025
in a Other Private Equity deal
Disclosed details
Transaction Size: $28M
Revenue: $48M
Enterprise Value: $43M
Equity Value: $28M
Multiples
EV/Revenue: 0.9x
P/Revenue: 0.6x