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BALLARPUR INDUSTRIES LTD. - Updates
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27 Mar 2017
We write in continuation to our letter dated 7th February, 2017, wherein we had enclosed financial results of the Company for the quarter &amp; period ended 31st December, 2016 and as a part of the Notes to said results informed that the Company is in advanced stages of discussions with Banks/ Private Equity Investors to infuse funds to cater to its working capital needs.In furtherance to the above, we wish to update that BGPPL(a step down subsidiary of the Company) has raised a term loan of INR 200 Crores from various financial institutions to meet its working capital requirements which has been fully disbursed.In addition, Ballarpur Paper Holdings B.V. (a step down overseas subsidiary of the Company) has raised a term loan of USD equivalent to INR 150 Crores from various financial institutions for its subsidiary, Sabah Forest Industries Sdn Bhd to meet its working capital requirements. An amount of USD 6.9Million has been disbursed and the balance amount is expected to be disbursed soon.
View all announcements for BALLARPUR INDUSTRIES LTD. Source: BSE India