<h1>Shreenath Paper Products Ltd acquires 50% stake in Shreenath Paper Industries, establishing an Associate</h1>
Shreenath Paper Products Limited has established a strategic association with Shreenath Paper Industries Private Limited by subscribing to 50% of its paid-up equity share capital. Through this transaction, Shreenath Paper Industries has been incorporated as an associate company of the parent entity.
The acquisition was completed in cash consideration at face value per equity share. The move expands the operational scope of Shreenath Paper Products Limited through the newly established enterprise.
Shreenath Paper Industries Private Limited operates within the manufacture of paper products. The venture is a newly incorporated company with no prior business operations or turnover.
Key details regarding the target entity are summarized below:
| Particulars | Details |
|---|---|
| Name of Entity | Shreenath Paper Industries Private Limited |
| Industry | Manufacture of Paper Products |
| Authorized Share Capital | INR 10,00,000 |
| Paid-up Share Capital | INR 10,00,000 |
| Stake Acquired by Parent Company | 50% of the paid-up equity share capital |
Shreenath Paper Industries is dedicated to carrying out a wide range of business objects related to paper and board products. Its objectives include manufacturing and dealing in all kinds and classes of Paper and Board, including various specialized items such as writing paper, printing paper, absorbent paper, blotting paper, filter paper, antique paper, coated paper, art paper, bank or bond paper, bible paper, cartridge paper, envelope paper, wrapping paper, kraft paper, corrugated paper, carbon paper, and sensitised paper.
The scope of the company also extends to manufacturing products like paste board, card, cardboard, grey board, pulpboard, leather board, duplex and triplex boards, laminated board, hard-board, plywood board, posi cards, visiting cards, chromo and coated paper and boards, and all other articles in which a form of paper or board is utilized.
Stock Price Movement
Shreenath Paper Products Ltd settled on Thursday at ₹12.80, having dropped 10.49% in the market close. The shares traded completely flat throughout the day, with both the intraday high and low marking exactly ₹12.80.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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