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Jindal Poly Films mulls raising Rs 800 cr

Press Trust of India  |  New Delhi 

Jindal Ploy Films plans to raise up to Rs 800 crore by issuing equity or securities to fund its business expansion.

The board of directors of the company will hold a meeting on May 25 to consider the proposal to raise funds not exceeding Rs 800 crore, the company said in a filing.

The board will consider options, including issue of equity shares/securities on private placement basis through qualified institutional placement or any other possible mode, it added.

The purpose for raising the fund is to meet capital requirements of growing business, and expansion in existing areas at current and new locations, it said.

Besides, the capital will also be used for possible inorganic growth opportunities, and manufacturing of value added products and related products, the company said.

The company manufactures polyester (PET) and Polypropylene (OPP) films.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 17 2017. 20:28 IST