Jindal Poly Films has received an approval to increase the shareholding of the company in Global Nonwovens (GNL, a subsidiary company) from 60.40% to 100 % by way of purchase of balance 39.60% shareholding of GNL held by its other Promoters. The shares will be purchased at par of Rs 10 at a total consideration of Rs 32.30 crore. Consequently, GNL will become the wholly owned subsidiary of the company.
GNL is engaged in manufacturing of spunbound and spunmelt nonwoven fabric made of polypropylene filament at its Nashik plant, which are used in Hygiene, Medical packaging, Agriculture and Automotive segments.
Jindal Poly Films is a part of the diversified B C Jindal group. The group has interests in flexible packaging, photographic products, thermal power generation and steel products. JPFL has the world’s single largest site for production of BOPP and BOPET films at Nasik, India.
Company Name | CMP |
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Supreme Industries | 4394.00 |
Astral | 2043.00 |
Finolex Inds | 272.10 |
EPL | 182.15 |
Jain Irrigation Sys | 59.34 |
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