Breaking News

You are here » Indian-Commodity  :  Corporate  :  Sundaram Multi Pap gets nod to amalgamate ECESL with itself

14-Jan2019

Sundaram Multi Pap gets nod to amalgamate ECESL with itself

Sundaram Multi Pap has received approval for scheme of amalgamation of E-Class Education System (ECESL), a 51 % subsidiary of the company, with itself. ECESL is an education technology powerhouse. E- Class provides digital content for Maharashtra State Board for K-10 segment.

Both the companies are engaged in complementary businesses and combining the businesses will result in enhancing shareholder value and other stakeholder and leveraging on synergies in doing business. The enhanced net worth of the company after the Amalgamation will improve its ability to bid for larger projects and pursue bigger opportunities. The Board of Directors of the company at its meeting held on January 12, 2019 has approved the same.

Sundaram Multi Pap is engaged in the manufacture of notebooks, account books, other paper stationery products, Kraft paper and trading of office paper stationery. Its operating facilities are located at Palghar, Nagpur and Kandla (SEZ facility). It sells its products in local as well as exports market.


Related News

View all news

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

State Bank of India (SBI) has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising at its meeting held on 22 March 2019 deliberated and accorded......

USFDA completes audit at Dr. Reddy's subsidiary in Hyderabad

USFDA has completed audit of R&D facility of Aurigene Discovery Technologies, a wholly owned subsidiary of Dr. Reddy's Laboratories, situated at Miyapur, Hyderabad. No FDA 483 was issued at the......

SpiceJet reports passenger load factor of 94% in February

SpiceJet has reported the Passenger Load Factor (PLF) of 94.0% during the month of February 2019. The company had reported PLF of 90.9% during the month of January 2019.The PLF is a key indicator of the......

Top News

View all news

Infosys to enter into agreement with The House Fund II

Infosys is going to enter into an agreement with The House Fund II, L.P., an AI-focused fund targeting startups from the University of California - Berkeley, committing to invest $10.0 million.......

EID Parry receives approval for investment Rs 70 crore in PSRIPL

EID Parry (INDIA) has received approval for investment upto Rs 70 crore in the equity share capital of Parry Sugars Refinery India (PSRIPL), a wholly owned subsidiary of the Company. The Board of directors......

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

State Bank of India (SBI) has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising at its meeting held on 22 March 2019 deliberated and accorded......