M&A

M&A

B2B marketplace Moglix buys insolvent eco-friendly paper maker Khatema for Rs.80-Cr

Yourstory   Inc42  

Noida-based, Unicorn B2B (business-to-business) marketplace Moglix has acquired Uttarakhand-based eco-friendly paper products manufacturer Khatema Fibres for INR 80 crore (USD 9.4 million).Founded in 1990 Khatema Fibres is engaged in sustainable paper manufacturing with an annual capacity of 50,000 metric tons. The company offers a range of eco-friendly products, including speciality high-strength kraft paper, interleaving paper, machine-glazed and machine-finished papers, various tissues, sublimation paper, virgin test liners, and food-grade packaging solutions.

For FY22, Khatema Fibres had reported about INR 172 Cr in Operating Income and about INR 19 Cr in Net loss. The company is undergoing Corporate Insolvency Resolution Process .