Date:01/06/2005 URL: http://www.thehindubusinessline.com/2005/06/01/stories/2005060102050200.htm

Back Jindal Poly Films to tap market to raise Rs 300 cr

Our Bureau

Mr Shyam Sunder Jindal, CEO, Jindal Poly Films Ltd, and Mr Jean-Paul Rousselet, President, REXOR, France, in Mumbai on Tuesday. - Shashi Ashiwal

Mumbai , May 31

JINDAL Poly Films Ltd is entering the capital market with a public issue to raise Rs 300 crore to fund its expansion plans.

The company, which manufactures flexible packaging and metallised films, will use the proceeds of the issue to expand its facilities at Nashik and Khanvel.

The issue, which is through the book-building route, opens on June 9 and closes on June 15.

In fiscal 2004, the company reported net sales of Rs 542.2 crore and profit before tax of Rs 80.1 crore.

ICICI Securities and JM Morgan Stanley Private Ltd are book running lead managers to the issue while Karvy Computershare Private Ltd is the registrar.