State Bank of India (SBI) acquired a 6.35% stake in Canpac Trends Pvt. Ltd.

State Bank of India (SBI) did indeed acquire a 6.35% stake in Canpac Trends Pvt. Ltd., a leading manufacturer of corrugated packaging solutions in India. This acquisition took place in November 2023, with SBI purchasing 3.7 lakh shares for Rs 1,349 per share, amounting to a total investment of Rs 49.9 crore.

Here are some key details about the acquisition:

  • Stake acquired: 6.35%
  • Number of shares purchased: 3.7 lakh
  • Investment amount: Rs 49.9 crore
  • Purpose of acquisition: SBI has stated that the acquisition is aimed at achieving capital appreciation, indicating their positive outlook on Canpac Trends’ future growth prospects.

Canpac Trends is a well-established company with a strong presence in the Indian packaging industry. They cater to a diverse range of clients across various sectors, including food, pharmaceuticals, and consumer goods. The company is known for its innovative packaging solutions and commitment to sustainability.

The total income of the Company for the period year ended on 31st Mar 2023 was Rs. 389.72 cr, PAT was Rs. 9.82 cr and Total Assets were Rs. 424.32 cr.

SBI’s investment in Canpac Trends can be seen as a strategic move to gain exposure to the growing packaging market in India. The packaging industry is expected to benefit from the rising demand for consumer goods, e-commerce, and food processing. Additionally, SBI’s investment could potentially provide Canpac Trends with access to financial resources and a wider distribution network.

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