INSUBCONTINENT EXCLUSIVE:
NEW DELHI: JBF Industries rallied 5 per cent today after ET reported that private equity firm KKR is likely to infuse more capital into the
company as part of a debt restructuring proposal.
The funds infusion could prevent lenders from taking the troubled polyester firm to the
The scrip locked in upper circuit of 5 per cent at Rs 30.55 while the benchmark Sensex scaled a fresh peak of 36,896.63 early today.
The
lucrative petroleum sector
The New York-based asset manager has not decided on the amount of infusion so far
parent JBF Industries, funnelling $150 million into the company in August 2015 through a combination of equity and zero coupon convertible
KKR and JBF Industries declined to comment for this story.
