Astron Paper & Board Mill Limited (BSE:540824) agreed to acquire Balaram Papers Pvt. Ltd. for INR 40 million on July 23, 2018. Under the terms, Astron Paper & Board Mill Limited will acquire 4.04 million shares. Post-acquisition, Balaram Papers Pvt. Ltd will become a wholly owned subsidiary of Astron Paper & Board Mill Limited. The transaction is subject to share transfer process and all other legal formalities. The transaction has been approved by the Board of Directors of Astron Paper & Board Mill Limited at the meeting held on July 23, 2018. As of August 17, 2018 Astron will pay INR 10 per share in cash and no government approval required for the acquisition.