Balrampur Chini Mills Limited has announced a series of strategic decisions following its board meeting on April 23, 2026. The company plans to issue 93,16,771 equity shares through a preferential allotment, alongside new project developments.
The board approved the issuance of 93,16,771 fully paid-up equity shares with a face value of ₹1 each. These shares will be offered at ₹483 per share, including a premium of ₹482, raising a total of ₹450 crore.
The allotment will be made to promoters, promoter group members, and non-promoter investors, subject to shareholder approval at an Extraordinary General Meeting scheduled for May 20, 2026.
The investors include Vivek Saraogi, Sumedha Saraogi, Meenakshi Mercantiles Limited, and several funds such as TATA Small Cap Fund and ICICI Prudential Strategic Alpha Fund.
In addition to the share allotment, the board has approved several new projects. A significant revision has been made to the capital expenditure for the Poly Lactic Acid (PLA) project, increasing from ₹2,850 crore to ₹3,080 crore.
This adjustment accounts for cost escalations due to rising construction material prices and global supply chain disruptions.
Furthermore, the company plans to establish a Lactogypsum Processing Plant in Kumbhi, Uttar Pradesh, with an estimated cost of ₹160 crore. This plant aims to process Lactogypsum, a by-product from the PLA manufacturing operations, into gypsum boards.
The board also approved the issuance of listed, secured, non-convertible debentures (NCDs) worth ₹200 crore on a private placement basis. These NCDs will be issued in one or more tranches, subject to regulatory approvals.
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As of April 23, 2026, at 3:30 PM, Balrampur Chini Mills share price on NSE was trading at ₹540.30 down by 0.23% from the previous closing price.
Balrampur Chini Mills' recent board meeting has resulted in significant strategic decisions, including a preferential share allotment and new project initiatives. These moves are aimed at enhancing the company's operational capabilities and financial strength.
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Published on: Apr 24, 2026, 8:22 AM IST
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