Kanpur Plastipack Limited has informed the Exchange regarding 'Acquisition of Valex Ventures Limited'.
KANPRPLA · price
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Kanpur Plastipack Limited has completed the acquisition of a 76.19% stake (16,000 equity shares) in UK-based Valex Ventures Limited, a distributor of FIBC jumbo bags, for a total consideration of ₹8.02 crore. The deal is a related party transaction, with shares being bought from promoter Mr. Manoj Agarwal. As part-payment, the company allotted 3,33,700 fresh equity shares to the promoter on a preferential basis at ₹202.61 per share (a premium of ₹192.61 over face value), aggregating to ₹6.76 crore, with the balance ₹1.26 crore payable in cash. Post-acquisition, Valex becomes a subsidiary of Kanpur Plastipack, giving it direct UK market access. Valex posted FY25 revenue of GBP 11.68 lakh and a small net profit of GBP 29,052, with revenue having more than doubled from GBP 4.92 lakh in FY23. The promoter's stake in Kanpur Plastipack rises from 10.42% to 11.69%.
Existing shareholders will see mild dilution (~1.27% from the promoter's increased stake via new shares), but gain a UK distribution foothold and a subsidiary at a reasonable cost. The related-party nature of the deal, while done at arm's length as per valuers, is worth noting for minority shareholders.