Balkrishna Paper Mills Rights Issue will open for subscription from 02 April 2024. the company aims for an issue size of ₹45.11 Crores through this rights Issue.
About the company
Balkrishna Paper Mills Limited was founded in 2013 and manufactures paper and board based on recycled pulp. The company was previously known as Nirvikara Paper Mills Limited. The company’s production facility is located in Ambivali, Maharashtra, and has a total capacity of 60,000 TPA.
Competitive strengths:
- Established track record: The company has been in the paper and paperboard manufacturing business for over five decades.
- Recognized brand: The company receives repeat orders from most of its customers. This brand recognition helps the company to command a slight premium over the market price and pass on changes in raw material costs to customers.
- Experienced management team: The promoters and management of the company have many years of experience in the industry.
Objectives of the Issue
- To repay or prepay, in full or in part, certain borrowings availed by the company;
- To repay towards redemption of Redeemable Preference shares Capital; and
- To meet General corporate purposes.
Balkrishna Paper Mills Rights Issue Timetable
| Last Date to buy shares | 14 March 2024 |
| Record Date | 15 March 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 02 April 2024 |
| Renunciation of Rights Entitlements | 08 April 2024 |
| Bid/Offer Closes On | 15 April 2024 |
| Deemed Date of Allotment | 22 April 2024 |
| Credit Date | 26 April 2024 |
| Listing Date | 02 May 2024 |
Balkrishna Paper Mills Rights Issue Details
| Issue Open | April 2, 2024 – April 15, 2024 |
| Security Name | Balkrishna Paper Mills Ltd |
| Issue Size (Shares) | 21,479,688 |
| Issue Size (Amount) | ₹45.11 Crores |
| Issue Price | ₹21 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of Rs. 21/- per Equity Share is payable on application. |
| Entitlement | 2 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 134.80 | 187.04 |
| Revenue | 109.45 | 244.59 |
| Profit After Tax | -51.88 | -4.69 |
| Reserves and Surplus | -160.97 | -109.09 |
Balkrishna Paper Mills Rights Issue Documents
Lead Manager(s)
Balkrishna Paper Mills Rights Issue Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
Company Contact Information
Balkrishna Paper Mills Ltd
A/7, Trade World,
Kamala City, Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013
Phone: +91 22 6120 7900
Email: bpmho@bpml.in
Website: https://www.bpml.in/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
