Investment23 Apr 2026, 09:51 pm
Balrampur Chini to raise ₹650 Cr via equity & NCDs; PLA project CAPEX up by ₹230 Cr
AI Summary
Balrampur Chini Mills Ltd's Board approved raising funds totaling ₹650 crore. This includes a preferential issue of up to 93,16,771 equity shares at ₹483 each, aggregating to ₹450 crore, to promoters and non-promoter institutional investors. Additionally, the board approved issuing up to ₹200 crore in secured, non-convertible debentures via private placement. An Extra-Ordinary General Meeting is scheduled for May 20, 2026, to seek shareholder approval for the preferential issue. The board also revised the capital outlay for its 80,000 TPA Poly Lactic Acid (PLA) Project, increasing it from ₹2,850 crore to ₹3,080 crore, an escalation of ₹230 crore, primarily due to rising material costs and supply chain disruptions.
Key Highlights
- Board approved raising ₹450 Cr via preferential issue of 93.16 lakh equity shares.
- Promoters and institutional investors will subscribe to the preferential issue.
- Company to raise an additional ₹200 Cr through private placement of NCDs.
- EGM on May 20, 2026, for shareholder approval of preferential issue.
- PLA Project CAPEX revised upwards by ₹230 Cr to ₹3,080 Cr.