Ballarpur Industries has received approval for the issuance of 1,08,00,000 0.01% unlisted non-cumulative redeemable preference shares of Rs 100 at par aggregating up to Rs 108 crore on private placement basis proposed to be allotted to Finquest Financial Solutions. The proceeds of the issue will be utilized towards epayment/prepayment of the whole or a part of the existing borrowings of the Company, working capital requirement, capital expenditure and/or for other general corporate purposes. The Board of Directors of the Company at their meeting held on February 13, 2025, inter-alia, has approved the same.
Ballarpur Industries manufactures wide range of papers such as coated wood free, uncoated wood free, copy paper, packaging, business stationery, industrial grades and speciality and fine paper.
