Balrampur Chini Mills Limited has informed the Exchange regarding "Establishment of a Gypsum Processing Plant at Kumbhi, Uttar Pradesh".
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On the reaction day the stock moved 2.1 pts less than Nifty Smallcap 250 and 0.5 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 board approved a preferential issue of 93.16 lakh equity shares at Rs. 483 each (including a Rs. 482 premium) to raise up to Rs. 450 crores from promoters and marquee institutional investors including TATA Small Cap Fund, ICICI Prudential funds, 360 One, Ikigai, and Alchemy. Promoters Vivek Saraogi, Sumedha Saraogi, and Meenakshi Mercantiles will subscribe to about Rs. 193 crores, while the balance is from non-promoter institutional investors. Separately, the board approved issuance of listed, secured non-convertible debentures of up to Rs. 200 crores on a private placement basis. The PLA project capex has been revised upward to Rs. 3,080 crores from Rs. 2,850 crores due to cost escalations of Rs. 230 crores. The company also approved setting up a new lactogypsum processing plant at Kumbhi, Uttar Pradesh, with a capacity of 76 lakh boards per annum at a cost of up to Rs. 160 crores. An EGM is scheduled for May 20, 2026 to seek shareholder approval for the preferential issue.
Existing shareholders will face equity dilution from the preferential issue, though the fundraise is supported by strong promoter participation and marquee institutional investors, signaling confidence. The capital infusion will help fund the expanded PLA project and new gypsum plant, supporting future revenue diversification.