Balkrishna Industries Limited to raise Rs. 1000 crores

At the meeting of the Board of Directors of Balkrishna Industries Limited held on Saturday, the 25th September, 2021, the Board has approved proposal for raising of funds up to Rupees One Thousand Crores through broader means of long-term finance which can be in the form of foreign currency bonds, Non-Convertible Debentures (NCD), external commercial borrowings and term loans in various currencies. These longterm borrowings may be secured or unsecured, rated or unrated, in one or more tranches / drawdowns, and in case of bonds or NCDs - it may be listed or unlisted in one or more stock exchanges in India.

The Board has further delegated the Power to the Finance Committee of the Company to do all such acts, deeds and things as may be required in connection with the aforesaid and to take all others steps which may be incidental, consequential, relevant or ancillary in this connection.

Shares of Balkrishna Industries Ltd., was last trading in BSE at Rs. 2674.9 as compared to the previous close of Rs. 2648.05. The total number of shares traded during the day was 9474 in over 1264 trades.

The stock hit an intraday high of Rs. 2679 and intraday low of 2615.4. The net turnover during the day was Rs. 24985504.

Source : Equity Bulls

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