Balrampur Chini Mills Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on May 20, 2026
BALRAMCHIN · price
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Balrampur Chini Mills Limited held an Extraordinary General Meeting on May 20, 2026 via video conferencing. The meeting was chaired by Dr. Indu Bhushan (Lead Independent Director) as the CMD Vivek Saraogi was interested in the proposed resolution. A special resolution was passed approving the offer, issue and allotment of equity shares on a preferential basis to raise Rs. 450 crores. The funds will come from promoters, promoter group, and marquee investors. Remote e-voting was conducted from May 17-19, 2026, and an additional 15-minute voting window was provided during the EGM. Results will be submitted to stock exchanges within two working days.
The Rs. 450 crore preferential allotment will dilute existing shareholders' stakes. However, participation by promoters and marquee investors signals confidence in the company's prospects. The fund infusion should strengthen the company's balance sheet and support growth plans.