Manjushree Technopack, India’s largest rigid plastic packaging company, on Friday said its board has approved a proposal to change the company’s name to Alternicq Limited, signalling a strategic shift towards innovation-driven, customer-centric and integrated packaging solutions. The proposed name change is subject to statutory, regulatory and shareholder approvals.

The Bengaluru-based company said the new brand reflects its transition from a scale-led manufacturing player to a comprehensive packaging solutions partner focused on innovation, sustainability and circularity in plastics.

The name ‘Alternicq’, symbolising alternative thinking, highlights the company’s sharpened focus on developing advanced packaging solutions while helping customers manage complexity across the packaging value chain. The company said the brand identity is represented through two rectangles coming together to form a diamond, symbolising strength, rarity and collaborative innovation between the company and its customers.

Incorporated in 1987, Manjushree Technopack operates 30 manufacturing facilities across India and employs more than 2,400 people. The company serves sectors such as FMCG, pharmaceuticals and beverages, offering end-to-end packaging solutions including containers, bottles, closures, drums, pumps and dispensers, along with cartons, labels and leaflets. Its client portfolio includes Varun Beverages, Dabur and Marico.

Alternicq represents alternative thinking, says CEO

Commenting on the rebranding, Managing Director and Chief Executive Officer Thimmaiah Napanda said the transition marks a defining milestone in the company’s 45-year journey.

“What began as a company built on scale and manufacturing excellence has evolved into a strategic partner deeply embedded in customers’ growth, innovation and sustainability ambitions. Alternicq reflects who we are today and the future we are building,” Napanda said.

He added that demand for rigid plastic packaging in India is expected to grow strongly, driven by rising consumption across sectors such as FMCG, pharmaceuticals, healthcare, home and personal care, agrochemicals, dairy, food and paints. He also noted that India’s extended producer responsibility (EPR) norms are expected to accelerate demand for recycled plastics and strengthen circular packaging infrastructure.

With an installed manufacturing capacity exceeding 2,75,000 metric tonnes per annum (MTPA), Napanda said the company is well positioned to deliver agile and sustainable packaging solutions at scale.

Nikhil Srivastava, Chairman of Manjushree Technopack and Co-Head of Private Equity at PAG, said the rebranding marks the company’s evolution from a packaging manufacturer into a strategic solutions partner.

“With this transformation, we move beyond being a packaging manufacturer to become a strategic partner that simplifies complexity, delivers reliability at scale and drives sustained growth through agile and alternative thinking. Rooted in Manjushree’s legacy, Alternicq represents progress shaped by experience, scale and a sharp focus on evolving customer needs,” he said.

In late 2024, Asia-focused private equity firm PAG signed an agreement to acquire around a 97% stake in the company from Advent International for approximately ₹8,400 crore. Following the transaction, the company withdrew its Draft Red Herring Prospectus (DRHP) from the Securities and Exchange Board of India (SEBI) on November 30, 2024, opting for a private stake sale instead of pursuing a public listing.

The company had earlier filed IPO papers in August 2024 to raise ₹3,000 crore, primarily to reduce debt and fund expansion. However, the listing plans were shelved after PAG acquired a controlling stake from Advent International.