JK Paper acquired the remaining 20% stake in Radhesham Wellpack Private Limited (RWPL) for ₹44.02 crore on September 9, 2026. The transaction converts RWPL into a wholly owned subsidiary of the paper manufacturer.

The deal involves the purchase of 25,000 equity shares with a face value of ₹100 each. This acquisition fulfills the terms of the Share Purchase and Shareholders' Agreement (SPSHA) dated December 13, 2024.

Transaction Details

Regulatory Context

JK Paper disclosed the update under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references earlier intimations issued on December 13, 2024, and September 26, 2025.

The company noted that requisite details were previously furnished in accordance with the SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as amended. Arvind Kumar, Company Secretary & Compliance Officer, signed the disclosure.

JK Paper shareholders approved a final dividend of ₹4 per equity share for FY26 and re-appointed key board members at its 65th annual general meeting held on September 2, 2026. While promoter voting was unanimous across all resolutions, the re-appointment of Chairman & Managing Director Harsh Pati Singhania faced notable opposition from institutional investors.

The meeting was conducted via remote e-voting and physical ballots at the company’s registered office in Gujarat. Harsh Pati Singhania presided over the proceedings. A total of 136,866,892 votes were polled out of 181,318,771 outstanding shares, representing a 75.48% turnout.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the AGM. Key outcomes include:

Auditor Appointments

The company ratified the remuneration for cost auditors R.J. Goel & Co. for FY27. Additionally, shareholders appointed Ronak Jhuthawat & Co. (Firm Registration No. P2025RJ104300) as secretarial auditors for a five-year term. This appointment covers the period from FY27 to FY31, concluding with the 70th AGM.

Voting Breakdown and Institutional Dissent

Promoter and Promoter Group shareholders voted in favor of all resolutions with 100% support. However, public institutional investors showed significant dissent on specific governance matters.

For the re-appointment of Harsh Pati Singhania as CMD (Resolution No. 6), institutional investors voted against the resolution by 70.55%, while non-institutional public shareholders supported it by 99.98%. The overall vote in favor was 85.60%, driven entirely by promoter backing.

Similarly, for the re-appointment of Vinita Singhania (Resolution No. 3), institutional investors voted against by 27.59%, though the resolution passed with an overall 94.37% support due to promoter votes. Harshavardhan Neotia's re-appointment saw 23.94% institutional opposition, passing with 95.11% overall support.

Governance Updates

Voting was conducted via remote e-voting and physical ballots. The scrutinizer’s report, issued by Dr. CS Ronak Jhuthawat, confirms that all resolutions were passed with the requisite majority. The report will be filed with stock exchanges and published on the company website and CDSL portal within the stipulated timeframe.