JK Paper Limited (BSE:532162) entered into an agreement to acquire 76.37% stake in The Sirpur Paper Mills Limited for INR 3.7 billion on July 19, 2018. JK Paper Limited will pay INR 1.7 billion in cash and will issue securities of INR 2.1 billion. Transaction is approved by Honorable Hyderabad Bench of National Company Law Tribunal on July 19, 2018. Ernst & Young acted as a financial advisor to JK Paper limited.