Jindal Poly Films acquires SMI Coated Products
Jindal PolyPack, a wholly owned subsidiary of Indian conglomerate Jindal Poly Films, has acquired 100 percent shareholding of labelstock manufacturer SMI Coated Products for 195 crores INR (25.4 million USD), according to an article by Capital Market.
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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