BALLARPUR INDUSTRIES LTD. - Updates
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| 06 Oct 2014 | |
| Ballarpur Industries Ltd has informed BSE that:<br/><br/>"We write in continuation to our letter dated 27th June, 2014 wherein Bilt Paper B.V. -BPBV (formerly Ballarpur International Graphic Paper Holdings B.V.), a step down subsidiary of our Company, is evaluating and exploring options with International Finance Corporation, USA (IFC) for receiving a potential investment from IFC, in a combination of debt and/or equity in BPBV and/or its step down subsidiaries and our subsequent letter dated 3rd September, 2014, wherein we had informed that the Board of IFC had approved investment comprising a combination of an equity investment of up to United States Dollars (US$)100 million and Long Term Loans of up to US$150 million.<br/><br/>This is to inform you that BPBV has today entered into definitive Agreements with IFC for subscription of new shares worth US$100 million at an implied pre money valuation of US$ 600 million. This will result into a shareholding of IFC in BPBV of 14.29%. The subscription of shares remains subject to fulfillment of conditions set out in the definitive documents.<br/><br/>As earlier informed, BPBV is also exploring the possibility of listing of its shares at an overseas Stock Exchange. The Company will provide further updates if and when necessary." | |
| View all announcements for BALLARPUR INDUSTRIES LTD. | Source: BSE India |
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