JK Paper Ltd said that composite scheme of arrangement involving its wholly owned subsidiaries became effective from March 15, 2026, following the filing of a certified copy of National Company Law Tribunal (Ahmedabad bench) order with the Registrar of Companies.
The merger is aimed at consolidating paper and packaging businesses and streamlining the corporate structure to improve operational efficiency and simplify processes and compliances.
Packaging units amalgamated; Enviro Tech Ventures restructuring completed
Under the scheme, three wholly owned subsidiaries: JKPL Utility Packaging Solutions Pvt Ltd, Securipax Packaging Pvt Ltd and Horizon Packs Pvt Ltd, have been amalgamated with the company with effect from the appointed date of April 1, 2024. The entities stand dissolved without winding up following the merger.
Demerger of Enviro Tech Ventures business
The demerged undertaking of Enviro Tech Ventures Ltd (ETVL), a subsidiary of JK Paper, has been transferred to PSV Agro Products Pvt Ltd with effect from April 1, 2025.
In consideration, PSV Agro issued equity shares to eligible shareholders of ETVL as per the share exchange ratio under the scheme, including a 31.12% stake allotted to JK Paper. Following the transaction, PSV Agro has become an associate company of JK Paper.
Sirpur Paper Mills becomes direct subsidiary
As part of the restructuring, redeemable preference shares of ETVL held by JK Paper were reduced and converted into an unsecured loan of equivalent value.
The residual business of ETVL, including its investment in The Sirpur Paper Mills Ltd, has been amalgamated with JK Paper with effect from April 1, 2025. Consequently, Sirpur Paper Mills has become a direct wholly owned subsidiary of the company.
Following the amalgamation, the unsecured loan created during the restructuring has been cancelled.
Authorised capital increased
Upon completion of the scheme, JK Paper will issue equity shares to eligible shareholders of ETVL as per the specified exchange ratio.
The combined authorised share capital of JK Paper has increased from ₹500 crore to ₹1,226 crore after the amalgamation of the transferor companies.
The company said the restructuring will consolidate its paper and packaging businesses, improve operational efficiency, simplify processes and compliances, and enhance its ability to serve customers.