HDFC Mutual Fund has sold 5% percent stake in packaging firm Huhtamaki PPL (HPPL) for nearly Rs 87 crore through an open market transaction. The fund house has offloaded 37,80,725 shares in the packaging firm. The shares were disposed of at an average price Rs 230 apiece, valuing the transaction at Rs 86.96 crore.
Huhtamaki PPL is a company specializing in flexible packaging and packaging solutions. The company manufactures flexible laminates, films, specialized pouches, cartons, tube laminates, labels, shrink sleeves, rotogravure cylinders, packaging machinery etc. It caters to customers across sectors ranging from food and beverages, personal care to pharmaceuticals, industrial products etc.
