Huhtamaki PPL has acquired the business of Ajanta Packaging.

The company has entered into a business transfer agreement for acquisition of the business of Ajanta Packaging, India, on a slump sale basis, and the enterprise is valued at Rs.100.3 crore. Ajanta Packaging is the largest privately owned label printers in India and has its manufacturing facilities in Daman (Western India) and Baddi (North India).

Further, the acquisition is subject to closing conditions and is estimated to be concluded by April,2018.

Read EquityPandit’s Technical Analysis of Indian Stock Market