mumbai private equity giant kkr co will invest 150 million rs 960 crore into jbf industries ltd and its international business subsidiary in singapore to help the debt laden polyester maker complete a large petrochemical plant in mangalore kkr will own 20 stake in the mumbailisted jbf industries and 145 stake in the privately held singapore subsidiary it will take one board seat each in both entitiesthis is a last mile financing to complete a large project which when comes on stream will bolster the companys cash flows and deleveraging capacity sanjay nayar ceo kkr india said the company carries an estimated 14 billion debt on its books jbf manufactures polyester valuechain products used in the fastmoving consumer goods textile and packaging industries jbf has six manufacturing facilities across india bahrain belgium and the united arab emirates the funding provided by kkr will help jbf complete our ongoing projects kkrs support will better enable jbf to grow our international presence said bhagirath arya founder and executive chairman of jbf the promoter family which holds 54 stake currently will see it fall below 45 post fund infusion this type of investment into a worldclass company such as jbf is a great example of how kkr can support indian manufacturing companies providing value to global customers nayar said he added that investment was not deployed to pay back debt but to bring projects on stream which will help the company we are encouraged to see indian promoters accessing private capital in the absence of bank financing and bond market to turnaround their companies nayar explainedkkrs other indian investments include alliance tires gland pharma and coffee day holdings