Thermal unit IPO is under consideration: Jindal PolyFilms

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Thermal unit IPO is under consideration: Jindal PolyFilms

In an interview to CNBC-TV18, Sameer Banerjee, whole time director of Jindal PolyFilms says, the initial public offer (IPO) for thermal unit has been in consideration. However, he says, no definite date has been fixed as yet.

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In an interview to CNBC-TV18, Sameer Banerjee, whole time director of Jindal PolyFilms says, the initial public offer (IPO) for thermal unit has been in consideration. However, he says, no definite date has been fixed as yet. 

Below is the edited transcript of his interview on CNBC-TV18. Also watch the accompanying video.

Q: We understand that you are considering an initial public offer (IPO) for your thermal unit. Can you take us through what stage it is at? What all is under consideration?

A: The IPO has been in consideration, but no definite date has been fixed as yet. The process is on, but no final date has been announced.

Q: Is it likely to take place in this fiscal year? What's the size of the IPO that you all wanted?

A: It is still in preliminary stage, nothing has been finalised yet.

Q: Could you tell us what's the debt on your books? I think it is close to about Rs 400 crore, any plans to retire this debt?

A: Yes, it is close to Rs 400 crore. The debts are paid on due dates. So, there is not much concern on that issue.

Q: There is also an ongoing buyback which is taking place currently. Could you tell us how much have you bought back, how much is the cash which is utilised and an update on your buyback?

A: I don't have immediate figures. But roughly about 50% of the total quantity that was planned has been done. The price range has been around Rs 180 or something and about 20 lakh shares have been bought back. So that has been the outgo for the buyback.