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Our Bureau

New Delhi , March 27

Softbank Asia Infrastructure Fund (SAIF) Partners today announced that it has acquired 6.66 per cent stake in Jindal Poly Films Ltd through an off-market transaction.

SAIF Partners has acquired 18.72 lakh shares in the company for a consideration of approximately Rs 56 crore, a company release said.

Mr Vibhor Mehra of SAIF Partners said, "This deal is an important milestone for SAIF Partners, as it is our first investment in the manufacturing sector in the country."

SAIF Partners has $1 billion under its management and the investment in Jindal Poly Films is being made from the second fund it raised in June last year for $650 million.

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