JBF Industries is reportedly in discussion with The Chatterjee Group (TCG), Indorama Group and Reliance Industries (RIL) for stake sale. The offloading of stake may lead to change of management control.
Indorama and TCG are actively involved in the process. Currently, the firm is being promoted by the Arya family which holds 43.18 percent stake and it is possible that the deal will not pan out.
JBF Industries is an India-based company, which manufactures polyester chips, polyester yarn and processed yarn from polyester chips.