Hotline: 1800 102 2007
X
Search Business Opportunities
May, 30 2018

Time Technoplast to get $40 mn from IFC in debt funding

The Mumbai-listed company counts sovereign wealth fund Abu Dhabi Investment Authority as an institutional investor. It was previously backed by Motilal Oswal Private Equity.

The private-sector investment arm of the World Bank, International Finance Corporation has announced to provide Rs 260 crore ($40 million) to Mumbai based Time Technoplast Ltd in debt funding.

The company will use the money to finance its capital expenditure plans, including those at its existing factories at Daman, Silvassa and Baddi, IFC said in a disclosure.

Time Technoplast makes polymer-based industrial packaging products such as plastic drums, tanks, pails, pallets and intermediate bulk containers. It also makes high-density polyethylene pipes, composite gas cylinders and cross-laminated films.

The company has four co-founders–-Anil Jain (managing director), Bharat Vageria, Raghupathy Thyagarajan and Naveen Jain. It was set up in 1992 and went public in 2007.

Time Technoplast counts Aditya Birla Chemicals, Du Pont, Royal Dutch Shell, Indian Oil, ExxonMobil, Ashok Leyland, Tata Motors, GE, Larsen & Toubro and Nestle among its clients, according to its presentation to investors earlier this month.

The company reported a net profit of Rs 180.4 crore on total income of Rs 3,105 crore for the financial year through March 2018.

The Mumbai-listed company counts sovereign wealth fund Abu Dhabi Investment Authority as an institutional investor. It was previously backed by Motilal Oswal Private Equity.

Apart from providing debt financing, IFC also makes direct private equity-style investments in India across sectors. Besides, it has an active limited partner portfolio in India where it backs private equity and venture capital funds focussed on India.

Among the recent bets on a manufacturing sector company includes Craftsman Automation Pvt. Ltd. IFC plans to provide debt funding of up to $30.7 million (Rs 200 crore) to the Coimbatore-based precision automobile and industrial components maker.

Comment
Related opportunities
  • Gyms and Fitness Centres
    About Us: Trugym is an innovative gym operator from the UK...
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  •   Run your own preschool & provide quality education by joining..
    Locations looking for expansion Goa
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required 900
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater North Goa Goa
  • Quick Service Restaurants
    About: Starting out in 2013 with its first Pizza store in..
    Locations looking for expansion Gujarat
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Become ASCENT ABACUS & BRAIN GYM franchisee today to be..
    Locations looking for expansion Haryana
    Establishment year 2003
    Franchising Launch Date 2005
    Investment size Rs. 50 K - 2lac
    Space required 300 sq. ft.
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Gurgaon Haryana
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities