Ballarpur Industries Ltd arm receives $100 million from IFC

Bilt Paper B.V. - BPBV, a step down subsidiary of the Company, had entered into definitive Agreements with International Finance Corporation ("IFC") for subscription to new shares worth US$100 million at an implied pre money valuation of US$ 600 million. BPBV has received US$100 million from IFC and allotted shares to IFC aggregating to 14.29% shareholding in BPBV.

Shares of BALLARPUR INDUSTRIES LTD. was last trading in BSE at Rs.18.55 as compared to the previous close of Rs. 18.55. The total number of shares traded during the day was 685730 in over 2189 trades.

The stock hit an intraday high of Rs. 18.9 and intraday low of 17.95. The net turnover during the day was Rs. 12621708.

Source : Equity Bulls

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