Balrampur Chini Mills raises Rs 450 crore via preferential share issue
BALRAMCHIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.9 pts less than Nifty Smallcap 250 and 0.7 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 allotted 93.16 lakh equity shares at Rs 483 each on a preferential basis, raising about Rs 450 crore. Promoters Vivek Saraogi, Sumedha Saraogi and Meenakshi Mercantiles subscribed about Rs 193 crore combined. Marquee investors including TATA Small Cap Fund, ICICI Prudential funds, Alchemy, 360 One and IKIGAI took the rest. Price includes Rs 482 premium over Re 1 face value. Paid up equity capital rises to Rs 21.13 crore from Rs 20.20 crore.
Dilution of about 4.4 percent for existing shareholders. Promoter holding rises, and entry of marquee funds is a positive endorsement.