Moglix: Moglix acquires Khatema Fibres for Rs 80 crore

B2B ecommerce platform Moglix on Thursday introduced the acquisition of paper manufacturing agency Khatema Fibres for Rs 80 crore and mentioned it will assist the platform increase its product portfolio and speed up development. The corporate additionally mentioned it’s trying to increase into 5 new manufacturing classes as a part of its enterprise development plans.

The addition of Khatema Fibres broadens the corporate’s product portfolio, reinforcing its market place and operational effectivity. This acquisition enhances Moglix’s current launch of Subsequent Day Supply in over 12 cities, which can quickly be expanded to 40 cities to cater to the evolving wants of the B2B phase, in accordance with a press release.

The full deal measurement is Rs 80 crore, it mentioned.

Based in 1990 in Khatema (Uttrakhand), Khatema Fibres specialises in sustainable paper manufacturing with an annual capability of fifty,000 metric tonnes with a various product vary, together with speciality high-strength kraft paper, interleaving paper, machine-glazed and machine-finished papers, numerous tissue choices, virgin take a look at liners, and food-grade packaging resolution, amongst others.

“This acquisition not solely expands our manufacturing footprint however permits us to ship even higher worth as we meet the dynamic calls for of the market,” mentioned Rahul Garg, Founder and CEO of Moglix.

The Khatema plant has the potential to scale as much as 75,000 tonnes, a objective Moglix is decided to realize because it drive development within the manufacturing sector, it mentioned.

The ecommerce platform mentioned it affords over 700,000 industrial objects, providers greater than 19,000 PIN codes throughout the nation, and helps over 1,000 giant producers and three,000-plus factories.