Jindal Poly Films Ltd approves fund raising of Rs. 800 crores

The Board of Directors of Jindal Poly Films Ltd at its meeting held on September 29, 2015, has considered and approved the proposal to raise funds upto Rs. 800 crores (Rupees Eight Hundred Crore) by issue of equity shares at such premium as may be decided, on private placement basis, through Qualified Institutional Placement (QIP) or any other permissible mode to meet expansion in the existing business at existing and new location for Inorganic growth opportunities, Value added products manufacturing and related products.

The Board decided to take approval of Shareholders through Postal Ballot (including E-voting) Process for raising the funds and other matters requiring shareholders' approval.

Mr. Amit Jain has been appointed as Non-Executive-Independent Director on the Board of the Company.

Shares of JINDAL POLY FILMS LTD. was last trading in BSE at Rs.442.3 as compared to the previous close of Rs. 435.7. The total number of shares traded during the day was 63853 in over 1921 trades.

The stock hit an intraday high of Rs. 449 and intraday low of 439.9. The net turnover during the day was Rs. 28322964.

Source : Equity Bulls

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