Stock Report

Pakka Ltd acquires Pakka Guatemala



Posted On : 2024-03-01 14:54:49( TIMEZONE : IST )

Pakka Ltd acquires Pakka Guatemala

The Board of Directors of Pakka Limited at its meeting held today i.e. 1st March, 2024, through Video Conference, has taken note and approved the acquisition of Pakka Guatemala, a wholly owned subsidiary of Pakka Inc. Pakka Inc., a USA based wholly owned subsidiary of the Company is making an acquisition of 100% stake in Pakka Guatemala, whereby, Pakka Guatemala will become a wholly owned subsidiary of Pakka Inc. and stepdown subsidiary of Pakka Limited.

This is a Strategic Opportunity for Nearshoring the production of Bagasse based Food-Packaging and Molded Service Ware. Creating and leading new value space in North American food industry market by providing compostable (not only biodegradable) packaging.

Pakka Inc., a USA based wholly owned subsidiary of the Company is making an acquisition of 100% stake in Pakka Guatemala, whereby, Pakka Guatemala will become a wholly owned subsidiary of Pakka Inc. and step-down subsidiary of Pakka Limited.

This further investment is towards potential synergies with the business of the Company.

Shares of Yash Pakka Ltd was last trading in BSE at Rs. 316.40 as compared to the previous close of Rs. 316.05. The total number of shares traded during the day was 90292 in over 2362 trades.

The stock hit an intraday high of Rs. 320.95 and intraday low of 308.00. The net turnover during the day was Rs. 28602889.00.

Source : Equity Bulls

Keywords

Pakka INE551D01018 Acquisition PakkaGuatemala