BCML revises PLA project CAPEX to ₹3,080 Cr, raises ₹650 Cr
Balrampur Chini Mills Ltd (BCML) announced a significant capital raise and project cost revision. The Board approved a preferential issue of up to 93,16,771 equity shares at ₹483 each, totaling ₹450 crore, to promoters, promoter group, and non-promoters. This is subject to shareholder approval at an EGM on May 20, 2026. Additionally, the company plans to issue Listed, Secured, Non-Convertible Debentures (NCDs) aggregating up to ₹200 crore on a private placement basis. The estimated capital outlay for the 80,000 TPA Poly Lactic Acid (PLA) Project has been revised upwards from ₹2,850 crore to ₹3,080 crore, an increase of ₹230 crore. This revision is primarily due to cost escalations in construction materials, global supply chain disruptions, and engineering/design changes.
Key Highlights
- BCML to raise ₹450 crore via preferential issue of 9.31 million equity shares at ₹483 each.
- Company also plans to issue Listed, Secured, Non-Convertible Debentures worth ₹200 crore.
- PLA Project CAPEX revised to ₹3,080 crore from ₹2,850 crore, an increase of ₹230 crore.
- Cost escalation driven by higher construction material prices and supply chain issues.
- Shareholder approval for preferential issue to be sought at May 20, 2026 EGM.