Balrampur Chini Mills: Preferential Issue Proceeds Utilized as Planned

Balrampur Chini Mills Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, detailing the utilization of proceeds from its preferential issue. The report, issued by India Ratings & Research Private Limited, confirms no deviation from the stated objects. The utilization was based on management undertakings and a certificate from statutory auditors LODHA & CO LLP. The company raised INR 450 Crores through the preferential allotment of 93,16,771 equity shares at ₹483 per share between May 20 and June 3, 2026. The funds were allocated for the purchase of Plant & Machinery for the Poly Lactic Acid (PLA) Project and establishment of a Gypsum Processing Plant, along with General Corporate Purposes. The Audit Committee and Board of Directors reviewed the report on August 11, 2026.