Sintex Soars Nearly 3% In Talks To Sell Stake

In Monday’s session Indian equities opened weaker, as BSE Sensex opened lower by 25 points at 29395 levels & Nifty50 opened lower by 14 points at the 9093 level. 

Sintex Industries Ltd., is soaring high on BSE, going against the weaker market trend, as the Company is in talks with private equity firms, TPG Capital, Blackstone Group LP & Carlyle Group, to sell minority stake in the newly demerged entity- Sintex Plastics & Technology Ltd.

The Gujarat based plastic company is in separate talks with TPG Capital, Carlyle Group & Blackstone Group LP to sell a minority stake amounting to Rs 1300 crore.

In the month of September 2016, the board of Sintex Industries approved a plan to separate its non-textile business under Sintex Plastics.

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