Jindal Poly Films Plans To Raise Rs 800 Crore To Fund Its Business Expansion

Jindal Poly Films, a polyester manufacturing company, in its filing to the exchanges on Wednesday, said that it is planning to raise up to Rs 800 crore to fund its business expansion by issuing equity share or securities.

The company in its filing to the exchanges added that the board of directors in a meeting on May 25 will consider the proposal to raise funds not exceeding Rs 800 crore.

The board if gong to consider various options like issuing of securities or equity share on private placement basis through qualified institutional placement (QIP) or any other possible mode.

The main goal of the fundraising will be to meet the capital requirements of expansion and growing business in existing areas at current and new locations, it added.

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