BILT Paper Plc (BPP) IPO : Plans Rs 1485 crore IPO on LSE

by khalid on 25/03/2011 · 0 comments

Bilt Paper Plc (BPP) is the overseas subsidiary of Ballarpur Industries. India’s largest paper producer, Ballarpur Industries, is a company of Avantha Group of India. The company is looking to raise $330 million (Rs 1485 crore), by listing its shares at the London Stock Exchange (LSE), to fund expansion and reduce debt through redemption of nearly $ 140 million of profit sharing certificates held by Ballarpur International Holdings (BIH).

The proceeds of the IPO are proposed to be utilized to finance expansion plans and repay debt. The company (BPP) has a nearly $170 million of capital expansion plans to come up. The company will dilute at least 25% equity according to the minimum public issue requirement.

Share’s Data :-
BSE Code : 500102
Mkt. Cap: Rs 2,127.10 Crores
Ballarpur Industries Ltd. share’s CMP is Rs 32.45 on 25th Mar 2011.

Stay tuned to BelltheBull Blog for more news on Bilt Paper Plc (BPP) IPO !

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