Packaging major Ess Dee Aluminium Ltd has announced that it purchased a majority stake in the ailing India Foils Ltd, a Vedanta Group firm.

Ess Dee further revealed that it has pumped about 1.2 billion rupees in India Foils and will take over 85-90 % in the firm.

According to the sources, Ess Dee Aluminium and Vedanta's Madras Aluminium Co jointly pumped 2.61 billion rupees in India Foils in equity and preferential shares as part of a rehabilitation plan sanctioned by the Board for Industrial and Financial Reconstruction (BIFR). Stock of Ess Dee Aluminium ended well at Rs 145, up 8.94 percent on Bombay Stock Exchange (BSE).

The total volume of shares traded at BSE was 17,459.