New Delhi, March 22 :    New Delhi, March 22:  Ballarpur Industries Ltd (Bilt) has informed all the stock exchanges concerned that Bilt Paper Holding Co of the Lalit Mohan Thapar Group is finalising the acquisition of Sinar Mas Pulp and Paper (India) Ltd. The deal with Sinar Mas Pulp and Paper (India) Ltd, a wholly-owned subsidiary of the Indonesia-based paper major, is expected to be through by April and payment is likely to be made by the end of that month, sources close to the deal said. Sinar Mas, which commenced its Indian operations about three years back, has decided to bow out of the Indian market because of financial trouble with the Indonesian parent, highly-placed company sources said. Significantly, the takeover is not being effected by Ballarpur Industries, the group's flagship company, but by Bilt Paper Holding Co. Sources said the Lalit Mohan Thapar group will not buy less than a 51 per cent stake in Sinar Mas India, thereby ensuring effective management control. Bilt Paper Holding Co was earlier known as APR, prior to the restructuring of Bilt. Following the family settlement of the Thapar group in November, which saw the division of the assets and businesses of the Thapar group into four groups, Bilt and APR had gone to the Lalit Mohan Thapar group. In the first phase of its restructuring, Bilt had hived off all non-paper businesses like chemicals, foods, media (The Pioneer), leather and glass. The pulp business of APR was transferred to Ballarpur Industries in the second phase of restructuring. Sinar Mas has a production capacity of 1.51 lakh tonnes per annum at its plant in Bhigwan near Pune. Industry sources say post-acquisition, Bilt will be able to use its surplus pulp for production in the plant,as Sinar Mas used to import pulp for production. The Rs 400-crore Sinar Mas India had been talking to leading paper companies through bankers before it zeroed in on the Lalit Mohan Thapar group. Following the acquisition, the group's paper production will increase by 1.5 lakh tonnes and turnover will go up from Rs 1400 to Rs 1800 crore. This will see the group's market share rise to about 20 per cent from the present 14 per cent.