Ballarpur Industries said to plan $250mn Singapore
IPO
25/04/2014 16:46
Ballarpur Industries, a flagship of the USD 4 billion Avantha Group, on Friday said the company the board of company will take a decision on the fund raising option, which includes fresh equity capital through international listings and/or private equity. According to CNBC report, Ballarpur Industries Limited, the Indian paper maker controlled by Gautam Thapar, plans to raise about USD 250 million in a Singapore listing of its international operations. Commenting on market buzz over Singapore IPO option, the company said it had previously disclosed to the Stock Exchange that its step down subsidiary, Ballarpur International Graphic Paper Holdings B.V. had constituted a Committee of Directors to explore and evaluate various fund raising options (fresh equity capital through international listings and/or private equity), and to submit its recommendations to board of BIGPH and BILT. “The Board of Directors of the Company and its subsidiaries will take a decision as and when it receives final recommendations of the Committee of Directors. The Company shall then make appropriate disclosure in accordance with applicable laws," Ballarpur Industries said in a filing to Bombay Stock Exchange. Meanwhile, shares of company closed at Rs 15.59 a piece, down 3.05 per cent from previous close on BSE.
25/04/2014 16:46
Ballarpur Industries, a flagship of the USD 4 billion Avantha Group, on Friday said the company the board of company will take a decision on the fund raising option, which includes fresh equity capital through international listings and/or private equity. According to CNBC report, Ballarpur Industries Limited, the Indian paper maker controlled by Gautam Thapar, plans to raise about USD 250 million in a Singapore listing of its international operations. Commenting on market buzz over Singapore IPO option, the company said it had previously disclosed to the Stock Exchange that its step down subsidiary, Ballarpur International Graphic Paper Holdings B.V. had constituted a Committee of Directors to explore and evaluate various fund raising options (fresh equity capital through international listings and/or private equity), and to submit its recommendations to board of BIGPH and BILT. “The Board of Directors of the Company and its subsidiaries will take a decision as and when it receives final recommendations of the Committee of Directors. The Company shall then make appropriate disclosure in accordance with applicable laws," Ballarpur Industries said in a filing to Bombay Stock Exchange. Meanwhile, shares of company closed at Rs 15.59 a piece, down 3.05 per cent from previous close on BSE.
