Latest News | Compostable Packaging Solutions Provider Pakka Raises Rs 244.7 Crore

New Delhi, Aug 12 (PTI) Pakka Ltd, a leading manufacturer of compostable packaging solutions, on Monday said it raised Rs 244.7 crore, which will help augment its production capacity.

Without sharing the details of the investors, the company in a statement said that it plans to establish the world's first compostable flexible packaging facility in Ayodhya.

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In October 2023, Pakka launched its compostable flexible packaging products in partnership with Brawny Bear, a nutrition company.

"With this fund, the company intends to solidify its position as a leading global brand for compostable flexible packaging. As part of its expansion plans, Pakka's compostable flexible packaging facility, the Jagriti project, is expected to be operational by December 2025," it said.

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Pakka aims to invest part of its funding in research and development on the compostable flexible packaging category.

"This investment is expected to double the production capacity of Pakka's manufacturing plant in Ayodhya," it said.

The company's India business head Jagdeep Hira said this new facility will increase Pakka's production capacity and strengthen its position in the flexible packaging industry.

"With this increase in the production of flexible packaging, Pakka can increase its distribution in the market. Our increased capacity will allow us to meet the growing demand for flexible packaging solutions across various sectors," he said.

Pakka, founded in 1981 as Yash Papers Limited, has since evolved to become the manufacturer of compostable packaging products.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)