Jindal Poly Films is planning to raise Rs 800 crore by issue of Equity Shares/Securities on private placement basis, through Qualified Institutions Placement (QIP) or any other permissible mode. In this regard, the company’s board will meet on May 25, 2017.
The company will use the funds to meet the needs of growing business, expansion in the existing business at existing and new location for Inorganic growth opportunities, Value added products manufacturing and related products.
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.
