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Polyfilm manufacturers are on the ascendancy. The latest news is, Jindal PolyPack, a wholly owned subsidiary of Indian conglomerate Jindal PolyFilms acquiring the entire 100% stake in SMI Coated Products for Rs 195 crores
SMI had recorded turnover of 273 crores INR (35.6 million USD) in FY 2020-21. The equity value payment by Jindal PolyPack to SMI would be 99.65 crores INR (around 13 million USD) after adjustment of net debt and debt like items, Capital Market reported.
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Polyfilm manufacturers are on the ascendancy. The latest news is, Jindal PolyPack, a wholly owned subsidiary of Indian conglomerate Jindal PolyFilms acquiring the entire 100% stake in SMI Coated Products for Rs 195 crores