AGI Greenpac Limited has received a significant credit rating upgrade from CARE Ratings Limited, with its long-term bank facilities upgraded to CARE AA- from CARE A+. The rating agency also removed the company from Rating Watch with Developing Implications, reflecting improved confidence in the company's credit profile.

Major Rating Upgrade Announced

CARE Ratings has upgraded AGI Greenpac's credit ratings following a comprehensive review based on operational and financial performance for FY24 (Audited) and 9MFY25 (Un-Audited). The upgrade comes despite the Supreme Court ruling against the company's resolution plan for Hindusthan National Glass & Industries Limited.

The total facilities under review amount to ₹1,234.00 crore, comprising various banking arrangements across multiple financial institutions.

Comprehensive Facility Structure

The company's banking facilities are strategically distributed across several leading financial institutions. The long-term facilities of ₹954.00 crore include term loans of ₹504.00 crore and fund-based limits of ₹450.00 crore.

Term Loan Distribution

Fund-Based Limits Allocation

The fund-based facilities are spread across seven banking partners, with Canara Bank providing the largest facility of ₹138.00 crore, followed by HDFC Bank Ltd. at ₹75.00 crore.

Short-Term Banking Arrangements

The short-term facilities of ₹280.00 crore consist entirely of non-fund based limits distributed among seven banking partners. Canara Bank leads with ₹76.00 crore, followed by HDFC Bank Ltd. with ₹69.00 crore.

Rating Implications and Outlook

The upgrade to CARE AA- rating with Stable outlook for long-term facilities reflects significantly improved creditworthiness and financial stability. The CARE A1+ rating for short-term facilities indicates superior capacity for timely payment of short-term obligations. CARE Ratings reserves the right to undertake surveillance and review of the ratings from time to time, with at least one review annually based on circumstances warranting such assessment.

Sandip Somany has acquired additional equity shares in AGI Greenpac Limited through an open market purchase, as disclosed in a regulatory filing dated March 30, 2026. The acquisition represents a marginal increase in his existing shareholding in the packaging company.

Acquisition Details

The transaction involved the purchase of 50,000 equity shares on March 27, 2026, through open market operations. This acquisition increased Somany's individual shareholding from 55,97,731 shares to 56,47,731 shares, representing a change from 8.65% to 8.72% of the company's total share capital.

Shareholding Pattern Before and After Acquisition

The disclosure reveals the comprehensive shareholding structure of Somany and persons acting in concert (PACs) with him. Before the acquisition, the combined group held 3,90,22,819 shares representing 60.32% of the total share capital.

Group Holdings and Regulatory Compliance

Following the acquisition, the total combined holding of Sandip Somany and persons acting in concert increased to 3,90,72,819 shares, representing 60.39% of AGI Greenpac Limited's total share capital. The persons acting in concert include Sumita Somany, Sandip Somany HUF, Shashvat Somany, Divya Somany, Somany Impresa Limited, and Matterhorn Trust.

The acquirer belongs to the promoter/promoter group of AGI Greenpac Limited. The company's equity shares are listed on both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). The total equity share capital of the company remains unchanged at 6,46,97,381 equity shares of ₹2 each.

Regulatory Disclosure

The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to both stock exchanges where AGI Greenpac Limited shares are listed, along with the company's registered office in Kolkata. No encumbrances, voting rights other than shares, or convertible securities were involved in this transaction.