Announcement under Regulation 30 (LODR) - Aquisition
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Aten Papers & Foam Ltd's board, on 31st March 2026, approved acquiring 2,74,000 equity shares (27.40%) of Aten Paper Mill Limited at Rs. 430 per share, totalling about Rs. 11.78 Crores in cash. The target is a Gujarat-based kraft paper manufacturer with FY25 turnover of ~Rs. 177.65 Crores and net profit of ~Rs. 10.67 Crores, showing strong growth from Rs. 119.45 Crores in FY24. The deal is structured as a related party transaction since the company's Managing Director and Promoter holds interest in the target, though it is being done at arm's length. No regulatory approvals are required, and the acquisition is aimed at expanding market reach, gaining technological capability, and achieving cost synergies.
This acquisition strengthens Aten Papers & Foam's foothold in the kraft paper segment and adds a sizable, profitable target to its portfolio, but the related-party nature may draw extra shareholder scrutiny. Investors should watch for any open offer obligation since the 27.40% stake crosses the 25% SEBI takeover threshold.