Sundaram Multi Pap has received approval for scheme of amalgamation of E-Class Education System (ECESL), a 51 % subsidiary of the company, with itself. ECESL is an education technology powerhouse. E- Class provides digital content for Maharashtra State Board for K-10 segment.
Both the companies are engaged in complementary businesses and combining the businesses will result in enhancing shareholder value and other stakeholder and leveraging on synergies in doing business. The enhanced net worth of the company after the Amalgamation will improve its ability to bid for larger projects and pursue bigger opportunities. The Board of Directors of the company at its meeting held on January 12, 2019 has approved the same.
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.