TCPL Packaging Limited (“the Company”) has further invested in Rights Issue of its subsidiary company viz Creative Offset Printers Private Limited (COPPL) and has been allotted 45,844 equity shares, aggregating to Rs. 2.59 Crores.
Post allotment of shares as aforesaid, the company holds 84.07 % of the share capital of COPPL. We request you to take note of the same and acknowledge receipt. OBJECT & EFFECTS OF ACQUISITION Expansion of business. COPPL (subsidiary Company) is in the business of packaging i.e. cartons and boxes required by mobile phone manufacturing companies and other customers. Large number of different manufacturers are expanding in mobile phone production. This would result in increasing the packaging share of the Company.