Sintex Industries, one of the leading plastic products makers in India, is planning to raise Rs 1,000 crore from the market by issuing debt securities on a private placement basis. The board of the company is meeting on July 28, 2016 to consider issue of unsecured/secured redeemable non-convertible debentures/bonds aggregating up to Rs 1,000 crore on private placement basis, in one or more tranches. Further, the board would also consider issuing equity shares to the existing shareholders of the company through rights issue.
Sintex Industries is the world largest producer of plastic water tank. It manufactures a wide range of plastic products including prefabricated structures, industrial custom molding products, monolithic constructions and water storage tanks.