AMJ Land Holdings Limited (BSE:500343) entered into an agreement to acquire 17.97% stake in Pudumjee Paper Products Limited (BSE : 539785) from 3P Land Holdings Limited (BSE:516092) on May 25, 2019. Under the terms, 17.1 million shares were acquired as a part of the consideration. Pudumjee Paper Products reported turnover worth INR 5.92 billion for the financial year ended March 31, 2019. The transaction is subject to approval by the shareholders, approval by Board of Directors of AMJ. As on October 18, 2019, transaction is approved by both shareholders. The transaction is however not subject to any regulatory approval. The transaction has been approved by the Board of Directors of AMJ. The transaction is expected to close within a period of 24 months.

AMJ Land Holdings Limited (BSE:500343) cancelled the acquisition of 17.97% stake in Pudumjee Paper Products Limited (BSE : 539785) from 3P Land Holdings Limited (BSE:516092) on May 25, 2020. As on November 7, 2020, Transaction is approved by National Company Law Tribunal.