Expansion10 April 2026 at 02:21 pm
Balkrishna Paper Mills to enter real estate, secure ₹100 Cr ICDs
AI Summary
Balkrishna Paper Mills Ltd's Board of Directors has approved two significant initiatives: commencing the business of real estate development and allied activities, and availing Inter Corporate Deposits (ICDs) totaling up to ₹100 Crore from related parties. The real estate venture aims for strategic diversification and optimal utilization of existing land assets. The ICDs, from S P Finance and Trading Limited and Sanchna Trading and Finance Limited, will provide up to ₹25 Crore each for FY2026-27 and FY2027-28. These funds, subject to shareholder approval, are intended for working capital, debt repayment, and supporting the new real estate business, with an interest rate of up to 12% and a one-year repayment schedule.
Key Highlights
- Company to diversify into real estate development business.
- Aims for strategic diversification and land asset monetization.
- Board approved availing ₹100 Cr in ICDs from related parties.
- ICDs are for working capital and new real estate business.
- Funds available across FY2026-27 and FY2027-28 at up to 12% interest.