PE Fund Investments
Brookfield to invest Rs.2,000-Cr in Jindal Poly's packaging biz
New Delhi-based, publicly listed Jindal Poly Films is to raise INR 2,000 crore from Canadian investor Brookfield by selling a significant minority stake in its packaging films business. Jindal Poly will carve out the packaging films business into a step-down subsidiary, JPFL Films Pvt Ltd (formerly named J. And D. Speciality Films Private Limited), in which Brookfield Asset Management, through an SPV, will invest. The Brookfield SPV has agreed to acquire 20 (twenty) equity shares of JPFL Films and subscribe to 19,990 CCPS of JPFL Films (on preferential basis). The investment will translate into a 25% stake for Brookfield in JPFL (on a fully diluted basis). Post deal, Jindal Poly will hold the remainder 75%. The packaging films business posted revenue from operations of INR 3,473 crore in FY21.
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