Balkrishna Paper Mills Rights Issue

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 shares14 March 2024
Record Date15 March 2024
Credit of Rights Entitlements
Bid/Offer Opens On02 April 2024
Renunciation of Rights Entitlements08 April 2024
Bid/Offer Closes On15 April 2024
Deemed Date of Allotment22 April 2024
Credit Date26 April 2024
Listing Date02 May 2024

Balkrishna Paper Mills Rights Issue Details

Issue OpenApril 2, 2024 – April 15, 2024
Security NameBalkrishna 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 AtBSE, NSE
Terms of PaymentThe full amount of Rs. 21/- per Equity Share is payable on application.
Entitlement2 Rights Equity Share(s) for every 1 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended31 Mar 202331 Mar 2022
Profit After Tax-51.88-4.69
Reserves and Surplus-160.97-109.09
(Amount in ₹ Crore)

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

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

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

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