Sundaram Multi Pap planning to divest up to 49% stake in its arm

19 Jul 2018 Evaluate

Sundaram Multi Pap is planning to divest up to 49% stake in its Wholly-owned subsidiary E-Class Education System to various potential investors in order to raise funds to reduce its debt obligations as well as to fund its growth requirements. The meeting of the Board of Directors of the company is scheduled to be held on July 26, 2018, to consider the same.

The Divesture up to 49% stake in its Wholly-owned subsidiary will lead to business growth and reduction of debts making the company's fundamentals strong. Post divesture Sundaram Multi pap will continue to hold 51% stake in its subsidiary i.e. E-Class Education System.

Sundaram Multi Pap (SMPL) is engaged in the manufacture of notebooks, account books, other paper stationery products, Kraft paper and trading of office paper stationery. Its operating facilities are located at Palghar, Nagpur and Kandla (SEZ facility). It sells its products in local as well as exports market.

Sundaram Multi Pap Share Price

2.80 -0.01 (-0.36%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
JK Paper 322.50
TN Newsprints 246.25
West Coast Paper 593.00
Emami Paper Mills 114.25
Andhra Paper 486.10
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