PAG's Strategic Expansion in India

In a significant move within India's packaging industry, Hong Kong-based private equity fund PAG has acquired a controlling stake in Pravesha Industries. This deal, valued at an enterprise value of $200 million (approximately Rs 1,734 crore), marks PAG's second major investment in the sector within a short span of a few months.

Details of the Deal

PAG, formerly known as the Pacific Alliance Group, has purchased slightly over 80% of Pravesha Industries from its promoters, Bomma Sivaprasad Reddy and RPR Sons Advisors, for Rs 1,387 crore. Bomma Reddy, who is the brother-in-law of Aurobindo Pharma's promoter Ram Prasad Reddy, plays a significant role in this transaction, with RPR being Ram Prasad Reddy's investment vehicle.

Previous Investments

This acquisition follows PAG's announcement in November 2024 of purchasing a majority stake in Manjushree Technopak from private equity firm Advent International for an enterprise value of $1 billion, further solidifying PAG's commitment to the packaging sector in India.