Mumbai/Hyderabad: Hong Kong-based private equity firm PAG has further strengthened its foothold in India’s packaging industry by acquiring a controlling stake in Pravesha Industries. The deal, valued at $200 million (approximately Rs 1,734 crore), marks PAG’s second major investment in India’s packaging sector in recent months.
The firm purchased slightly over 80% of Pravesha Industries for Rs 1,387 crore. The shares were acquired from the company’s promoters, Bomma Sivaprasad Reddy and RPR Sons Advisors. Bomma Sivaprasad Reddy is closely associated with Aurobindo Pharma through family ties, as he is the brother-in-law of Ram Prasad Reddy, one of Aurobindo’s promoters. RPR Sons Advisors serves as Ram Prasad Reddy’s investment vehicle.
This acquisition follows PAG’s November 2024 purchase of a majority stake in Manjushree Technopak, another prominent player in India’s packaging sector. That deal, completed with private equity firm Advent International, carried an enterprise value of $1 billion, underscoring PAG’s significant interest in this growing market.
PAG’s strategic investments highlight the increasing appeal of India’s packaging industry, driven by rising consumer demand and evolving business opportunities. The firm’s recent acquisitions position it as a key player in the sector, with the potential to shape its future trajectory. These strategic acquisitions underline PAG’s confidence in the growth potential of India’s packaging industry, which is being fueled by rapid urbanization, a surge in e-commerce, and increasing consumer demand for sustainable and innovative packaging solutions. By investing in established companies like Pravesha Industries and Manjushree Technopak, PAG not only strengthens its portfolio but also positions itself to leverage the expanding opportunities in this dynamic sector, contributing to its long-term success and market leadership.
