Hotline: 1800 102 2007
Hotline: 1800 102 2007
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.

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

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.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • HR & Recruitment
    About Us:  QuiDui is a recruitment company For Mid & Senior..
    Locations looking for expansion Maharastra
    Establishment year 2013
    Franchising Launch Date 2019
    Investment size Rs. 50000 - 2lac
    Space required 00
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharastra
  • Gyms And Fitness Centres
    About Us: Vision HRM, is a progressive initiative of dynamic entrepreneurs VishwasKherdikar..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Quick Service Restaurants
      About Us: "My Choice Burger" is an Upcoming Brands In India.  The..
    Locations looking for expansion New Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater delhi New Delhi
  • Others Food Service
    About Us : A fast growing chain of Premium Cafes ! Established..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities