Ballarpur Industries Limited has informed the Exchange about General Updates
Awaiting price reaction for this filing.
Ballarpur Industries has redeemed 21,32,553 unlisted 0.01% Cumulative Redeemable Preference Shares of face value Rs. 100 each at par, for a total of Rs. 21.33 crore. These CRPS were issued in 2023 to financial creditors (IDBI Bank, LIC, Suraksha Asset Reconstruction, Finquest Financial Solutions) as part of the company's approved Resolution Plan under the Corporate Insolvency Resolution Process (CIRP). The redemption was due within 2 years of the Closing Date (June 12, 2023), and has been completed on the last permissible date, June 11, 2025.
The redemption is a scheduled obligation under the insolvency resolution plan being completed on time. It reduces the company's outstanding liabilities but involves a cash outflow of Rs. 21.33 crore. This is a positive sign of the company honouring its CIRP commitments, though it has no direct impact on equity shareholders or the stock price.