Jindal Poly Films Ltd will invest up to Rs 660 crore (including already invested) in the equity shares in Jindal India Powertech Ltd, which is a holding company of Jindal India Thermal Power Ltd.

In a bid to foray into the power sector, polyester film-maker, Jindal Poly Films, will invest around Rs660 crore to acquire a majority stake of 73.73% in Jindal India Powertech, the holding company of Jindal India Thermal Power Ltd.

The steep rise in PET film prices has boosted the profitability of Jindal Poly Films. The company's expansion plans, strong balance sheet, healthy cash flows and expected sustainability of the buoyant BOPET film prices make the company an attractive long-term bet.