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Chandra buys out Essel Propack co-promoter
MUMBAI: Essel Group chairman Subhash Chandra is consolidating his holdings in Essel Propack, the world’s largest producer of laminated tubes with a 32 per cent global market share.
Chandra and corporate entities belonging to him have decided to acquire 21.91 per cent of Essel Propack for Rs 2.26 billion from co-promoter Arfen Hsu Ltd.
The acquisition of 6,863,322 shares from the foreign collaborator has been carried out at a price of Rs 330 per share. Arfen Hsu Ltd was apparently in need of cash and wanted to exit. Post acquisition, Chandra’s stake will increase to around 59 per cent.
“We wanted to consolidate our holdings. It is a good buy and shows Essel Group’s renewed commitment to Essel Propack. We have expansion plans to new geographical areas and will be introducing new product lines,” says Essel Group CEO – corporate Rajiv Garg.
Providing packaging solutions for the toothpaste, cosmetics and pharmaceuticals sectors to top multinational customers, Essel Propack has a presence in 13 countries with 20 manufacturing locations.
“A suitable share purchase agreement has been agreed in principle and shall be signed after expiry of the requisite notice period under Securities & Exchange Board of India (Sebi) Regulations, 1997 (Substantial Acquisition of Shares and Takeovers). The acquisition is exempt from the making of a public offer under the applicable Sebi regulations,” an official release issued today said.
The subject shares are owned by Arfen Hsu, acquired simultaneous to the merger of its international laminate tube making assets of Propack Holdings Ltd. into the then Essel Packaging Ltd that became effective from 14 December, 2000. “Their holding of 6,683,322 shares has continued at the same level since the date of issue,” Essel Group clarified in the release.
Chandra originally promoted Essel Propack in 1984, a pioneering venture that brought laminated tubes to the Indian market. In 1993, it set up its first overseas venture in Egypt as part of its plan to become a global player. In 1997, it formed a wholly owned subsidiary in Guangzhou, China and in 1999, a joint venture in Dresden, Germany.
The following year it set up a wholly owned subsidiary in Nepal and in December Essel Propack acquired the tubing operations of the Propack group. Propack was the fourth largest laminated tube manufacturer in the world with operations in China, Philippines, Columbia, Venezuela, Indonesia and Mexico, all of which became part of Essel Propack.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
