Huhtamaki PPL Ltd to acquire Ajanta Packaging for Rs. 100.3 crore

Huhtamaki PPL Limited has entered into a Business Transfer Agreement for acquisition of the business of M/s. Ajanta Packaging, India on a slump sale basis, based on an enterprise valuation of Rs 1003 million on a cash free, debt free basis. This acquisition will help the Company in consolidating its position in Pressure Sensitive Label business.
Ajanta Packaging is one of the pioneers & largest privately owned label printers in India, having state of art manufacturing facilities in Daman (Western India) and Baddi (North India).
The said acquisition is subject to closing conditions and is likely to be concluded by April, 2018.
Shares of Huhtamaki PPL Limited was last trading in BSE at Rs.303 as compared to the previous close of Rs. 311.65. The total number of shares traded during the day was 1118 in over 44 trades.
The stock hit an intraday high of Rs. 305.95 and intraday low of 296. The net turnover during the day was Rs. 338731.

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