Sundaram Multi Pap has decided to divest up to 49% stake in its Unlisted 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 Board of Directors of the company at their meeting held on July 26, 2018, decided the same.
The Board has appreciated that, divesture measure in its Unlisted Wholly-owned subsidiary up to 49% stake 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 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.
Company Name | CMP |
---|---|
JK Paper | 353.95 |
TN Newsprints | 257.00 |
West Coast Paper | 605.25 |
Emami Paper Mills | 115.20 |
Andhra Paper | 488.10 |
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