Jindal Poly Films rises 6% on sale of minority stake in packaging films business

Jindal Poly Films

Jindal Poly Films rose 6% after the firm signed an agreement for the sale of a minority stake in its packaging films business to Brookfield Asset Management.

Jindal Poly Films will carve out its packaging films business into a wholly owned subsidiary (which generates around 85 per cent of the firm’s total revenues) and the Canadian investment giant will make an investment of Rs 2,000 crore.

JPFL will continue to own its non-woven business unit and other corporate assets.

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