Cosmo Films (CFL), promoted by Ashok Jaipuria(son of the late Sitaram Jaipuria, former CMD of SWadeshi Polytex) is the pioneer in the manufacture of biaxially-oriented polypropylene(BOPP) film which is widely used in the consumer product industry for packaging. The company went public four years after its incorporation in 1976. CFL, the first ISO 9002 certified BOPP manufacturing company operates two plants at Chikalthana and Waluj, both in Aurangabad district of Maharashtra with an combined production capacity of 23100 MTPA of BOPP and Synthetic paper. The company has taken up an another expansion project of 10000 MTPA at existing location at Waluj. CFT start exporting its products from 1994. The company is continuously scaling up its capacity in line with the demand and it has set up a second plant(with an installed capacity of 2,000-tpa ) for manufacture of BOPP film at the Waluj Industrial Area in the Aurangabad district. Later the combined installed capacity was increased to 10800 mtpa through an expansion plan. In 1996-97, CFL has undertaken an debottlenecking programme(revamping of Line III) thus increasing the installed capacity to 13200 MTPA. And again in 1997-98 the installed capacity was increased to 14,100 MT. The company is in the process of acquiring land at Nashik, Maharashtra for setting up a new unit with an installed capacity of 17000 MTPA of BOPP film. The company has plans to manufacture electrical-grade BOPP film in collaboration with General Electric, US. The company has won the Best BOPP Exporter Award from PLEXCONCIL for the year 1998-99. The company acquired 76.51% stake in Gujarat Propack (GPP) at a price of Rs 29.25 per share. The deal translates into an Enterprise Valuation of around Rs 87 crore. In line with the take over Cosmo Films shall make an oppen offer to acquire a further 20% shareholding from public at the acquisition price of Rs 29.25 per share. GPP was established in 1986 and is the second largest player in the Indian BOPP films industry with over 27% market share. GPP has an excellent track record in developing specialized products for high-end packaging applications and has an impressive customer profile which includes Hindustan Lever, Nestle India, ITC, Britania and Godfrey Philips India among others. GPP has total of three manufacturing lines and two plants located at Baroda with a capacity of 13,000 MTPA. During the year 2002, Gujarat Propack Ltd merged with the company in the ratio of 2:1 equity shares held. The company had issued Bonus Shares in the ratio of 1:1 to its shareholders and the allotment was completed on 28.03.2003.The company has increased BOPP's installed capacity by 25500 MT and consequently the total capacity has now stood at 48600 MT.