Balrampur Chini Mills Limited has informed the Exchange regarding Outcome of Board Meeting held on April 23, 2026.
BALRAMCHIN · price
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On the reaction day the stock moved 0.7 pts less than Nifty Smallcap 250 and 2.4 pts less than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Balrampur Chini Mills Limited's Board approved a preferential issue of up to 93.17 lakh equity shares at Rs. 483 per share (including Rs. 482 premium) to raise approximately Rs. 450 crore. The allottees include promoters (Vivek Saraogi, Sumedha Saraogi, Meenakshi Mercantiles) and institutional investors like TATA Small Cap Fund, ICICI Prudential funds, and 360 One Pipe Fund. The company also approved issuance of listed, secured non-convertible debentures (NCDs) up to Rs. 200 crore on private placement. Additionally, the CAPEX for the 80,000 TPA PLA project was revised upward by Rs. 230 crore to Rs. 3,080 crore due to construction cost escalations and supply chain disruptions. A new lactogypsum processing plant at Kumbhi, UP costing Rs. 160 crore will also be funded from the preferential issue proceeds.
The preferential issue dilutes promoter holding but brings marquee institutional investors. The NCD issuance provides additional debt financing flexibility. The PLA project cost overrun and new plant require continued capital deployment, which investors should monitor for execution and return on investment.