Kanpur Plastipack Limited has informed the Exchange about incorporation of Joint Venture Company.
KANPRPLA · price
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Kanpur Plastipack has incorporated a 50:50 joint venture company named ESSEKAN Private Limited with Italian firm Essegomma S.p.A., following board approval given in November 2025. The JV was registered on 7 January 2026 and has an authorized capital of Rs. 50 lakh and paid-up capital of Rs. 40 lakh, with Kanpur Plastipack subscribing to 2 lakh equity shares (Rs. 20 lakh) for its 50% stake. ESSEKAN will handle the sales, marketing, trading, and distribution of high-performance polypropylene yarn, combining Essegomma's European expertise in Taslan yarn technology with Kanpur Plastipack's Indian manufacturing base. The venture aims to target global technical textile and luxury textile markets, and operations are yet to commence.
This is a modest capital commitment (Rs. 20 lakh) but strategically significant as it gives Kanpur Plastipack a platform to access European textile markets and premium yarn segments through a reputed Italian partner. For shareholders, the long-term benefit depends on how quickly the JV scales revenue, since no turnover has started yet.