Intimation of redemption of Cumulative Redeemable Preference Shares
Awaiting price reaction for this filing.
Ballarpur Industries has redeemed all 21,32,553 unlisted 0.01% Cumulative Redeemable Preference Shares (CRPS) of Rs. 100 each at par, aggregating to about Rs. 21.33 crore. These CRPS were originally issued in June 2023 to assenting financial creditors as part of the company's Resolution Plan under the Corporate Insolvency Resolution Process (CIRP). The redemption, due within two years of the closing date, was completed on June 11, 2025. Key recipients included IDBI Bank (16.28 lakh shares), Finquest Financial Solutions (2.60 lakh), Suraksha Asset Reconstruction (1.88 lakh), and LIC (55,804 shares).
This fulfils a pending obligation from the company's insolvency resolution plan and represents routine capital cleanup rather than a fresh capital event — minimal direct impact on equity shareholders or share price is expected.