Investment bank Rothschild was hired to carry out the sales process for a New Delhi-based packaging film player, two people who knew about the development said.
BC Jindal’s son Siam Thunder Jindal, grandson Babesh Jindal and his family own JPFL through a holding company and trust. The company is managed by a team of experts and promoter Show a presence on the board of directors. BC Jindal is the brother of OP Jindal, whose sons Sajan and Navin have dominated India’s steel and power sector.
The promoter is Market capitalization On Monday, the stock closed at Rs 726, up 10.52 percent in BSE.
Large private equity funds, including The Blackstone Group and Advent International, have been approached to sell their shares, people said.
Emails sent to JPFL and Blackstone did not elicit any response until Monday’s press time, but an Advent spokesman declined to comment.
JPFL is the world’s 8th largest manufacturer of BOPET (biaxially stretched polyethylene terephthalate) film. BOPET is used in the packaging of products in industries such as food and beverages, cosmetics and personal care, electrical and electronic equipment, and pharmaceuticals.
JPFL has a strong position in the high value metallized film market.
Since JPFL was a producer of polyester yarn in 1985, it diversified into the production of BOPET film in 1996. In 2003, we started production of BOPP film and metallized film. We acquired Rexor SAS in France and expanded our business by manufacturing metallized and coated films, tear tapes, stamping foils and security threads.
According to the company’s website, the company’s manufacturing plant in Nashik, Maharashtra is the world’s largest facility for producing BOPET and BOPP films. Uflex and Polyplex Corp are Jindal PolyFilms’ major competitors in BOPET film manufacturing.
Jindal Poly was able to maintain stable operational performance during the Covid-19 blockade nationwide due to strong demand for packaging and hygiene products, rating agency Crisil said while upgrading its rating. Stated. “Therefore, overall revenue in 2021 could be slightly lower, but operating income should remain healthy,” said Crisil.
The company’s interest, taxes, depreciation and profit before depreciation increased by more than 40% year-on-year to reach Rs 64.8 billion in 2020 with a margin of 18.3%. This further improved liquidity to 650 rupees. According to Mr. Crisil, the rupee as of March 31, 2020.
Based in the United States, Blackstone made the largest acquisition in the Indian packaging industry, with the diversified Piramal Group’s glass packaging business, Piramal Glass, acquired in December 2020 for a corporate value of $ 1 billion. In 2019, we acquired Essel Propack for $ 470 million.
Jindal Poly Films: Jindal Poly Films plans to sell its minority stake and will raise approximately SEK 1,200.
https://economictimes.indiatimes.com/markets/stocks/news/jindal-poly-films-plans-sale-of-minority-stake-to-raise-about-rs-1200-cr/articleshow/81403264.cms Jindal Poly Films: Jindal Poly Films plans to sell its minority stake and will raise approximately SEK 1,200.