Shardul Amarchand Mangaldas & Co. (SAM) advised JK Paper Limited on its INR 235 crore acquisition of a majority stake in Borkar Packaging Private Limited (BPPL), 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 BPPL for a consideration of INR 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 BPPL.
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.
The SAM 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; Stuti Dhawan, Associate; Tryambica Singh, Associate; Abhimanyu Chattree, Associate; and Yaggya Kapoor, Associate.
Clove Legal acted as legal counsel to BPPL and the sellers, while Singhi Advisors acted as the financial advisors to the transaction.