ITC Ltd has completed the acquisition of the Century Pulp and Paper (CPP) business from Aditya Birla Real Estate Ltd (ABREL), bringing to a close one of the largest consolidation transactions in India’s paper and paperboard industry.
In an exchange filing dated August 1, Aditya Birla Real Estate said the transaction involving the sale and transfer of its pulp and paper undertaking had been completed. The business was transferred to ITC on a slump-sale basis along with all related assets, liabilities, contracts and employees.
The two companies signed the business transfer agreement on March 31, 2025, with the deal valued at ₹3,498 crore, subject to customary adjustments. Shareholders of the company approved the transaction in July 2025, while regulatory approvals, including clearance from the Competition Commission of India, were subsequently obtained.
Century Pulp and Paper, located at Lalkuan in Uttarakhand’s Nainital district, is one of the country’s leading integrated paper manufacturers. Established in 1984, the facility has an installed production capacity of about 480,000 tonnes per annum and manufactures writing and printing paper, tissue paper, paperboard products and pulp.
The acquisition substantially strengthens ITC’s paperboards, paper and packaging business. The addition of Century Pulp and Paper’s operations is expected to increase ITC’s annual paper and paperboard manufacturing capacity to nearly 1.5 million tonnes, reinforcing the company’s position in the domestic market.
For Aditya Birla Real Estate, formerly known as Century Textiles and Industries Ltd, the divestment marks another step in its transformation into a focused real estate business. The move also brings to an end the Aditya Birla Group’s long-standing presence in the pulp and paper segment.
The transaction is widely seen as part of a broader wave of consolidation in India’s paper industry, driven by growing demand for sustainable packaging materials, rising raw material costs and the pursuit of greater economies of scale. Industry analysts expect larger manufacturers to continue expanding their footprints through acquisitions as competition intensifies.