JK Paper Limited (BSE:532162) agreed to acquire 15% stake in Horizon Packs Pvt. Ltd. and Securipax Packaging Pvt. Ltd. on May 16, 2024.

Post the acquisition, Horizon Packs and Securipax Packaging will become wholly owned subsidiaries of JK Paper. The shares for Horizon Packs will be purchased for INR 20.62 per equity share and Securipax Packaging will be Rs. 744.96 per equity share.

Horizon Packs and Securipax Packaging reported turnover INR 7.5 million for FY 2023-24. The board of directors of JK Paper approved the transaction. The transaction is expected to be completed within four weeks.