Balrampur Chini Mills Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on May 20, 2026
BALRAMCHIN · price
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Balrampur Chini Mills Limited has called an EGM on May 20, 2026 seeking shareholder approval for a preferential issue of up to 93,16,771 equity shares at Rs. 483 per share (face value Re. 1 + premium Rs. 482), raising approximately Rs. 450 crore. The allotment includes promoter group (Vivek Saraogi, Sumedha Saraogi, Meenakshi Mercantiles) subscribing for about Rs. 193 crore, and non-promoter institutional investors including TATA Small Cap Fund (Rs. 100 crore), 360 One Pipe Fund (Rs. 88 crore), IKIGAI Emerging Equity Fund (Rs. 22 crore), and multiple ICICI Prudential funds (totaling about Rs. 35 crore). The issue price of Rs. 483 was determined based on the relevant date of April 20, 2026. Remote e-voting will be open from May 17-19, 2026.
The preferential allotment will dilute existing shareholders significantly. Promoter holding will increase while new institutional investors like TATA Mutual Fund and 360 One enter the register, signaling institutional confidence. The Rs. 450 crore inflow may support future growth but shareholders should assess the dilution impact on their holdings.