Ballarpur Industries allots Rs 57.5 cr NCDs on private placement

Ballarpur Industries has allotted 5,750 listed, rated, unsecured, redeemable NCDs of face value Rs 1 lakh each, aggregating Rs 57.5 crores, on a private placement basis to Infotel Technologies and Belgrave Investment Fund. The NCDs are zero coupon with a 3 year tenure maturing on 21 September 2029, and will be listed on BSE. Proceeds will be used for working capital needs. The Board had earlier cleared an issuance of up to Rs 100 crores.