The acquisition aligns with Moglix’s broader goals, complementing its recently launched next-day delivery service in over 12 cities, which is set to expand to 40 cities in the near future.
In an interview with CNBC-TV18, Rahul Garg, Founder and CEO of Moglix, highlighted that the acquisition is a significant step toward backward integration of the packaging vertical. “Khatema Fibres is a very unique company. We have been working on it for the last 18 months. This company specialises in making craft paper, with 50,000 metric tonnes of capacity every year. By leveraging recycled paper sourced both domestically and globally, we aim to produce paper bags and craft papers that can cater to a wide range of industries. This acquisition is a significant step toward backward integration in our packaging vertical,” Garg said.
The acquisition, executed through the NCLT route, involved an investment of nearly ₹80 crore. Khatema Fibres operates from a 25-acre campus in Uttarakhand and ranks among the country’s top three speciality paper manufacturing plants.
Garg expects the Khatema Fibres asset to contribute ₹300-400 crore in manufacturing output within the packaging sector. “While this acquisition is a cornerstone for our packaging platform, it is only the beginning. Our vision is to create one of the largest packaging platforms in India, with Khatema Fibres serving as a pivotal anchor investment. There are more such initiatives on the horizon,” Garg added.
Additionally, Avneesh Prakash, CEO of Camb.ai, shared insights into how the company is transforming content creation through the innovative use of artificial intelligence.
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