12-Mar-2024
2 mins read
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Balkrishna Paper Mills rights issue will open on Friday, April 12, 2024 and close on Monday, April 15, 2024. This issue will give eligibility to the existing shareholders to buy Balkrishna paper equity shares at discount price. The last date to buy shares is Wednesday, March 14, 2024. The record date of this new issue is Thursday, March 15, 2024. The issue size is of 21,479,688 equity shares amounting to Rs 45.11 crores. The issue price is set at Rs 21 per share, and the face value is at Rs 10 per share. The eligible shareholders are being offered two Rights Equity shares for every one fully paid up equity shares held on a March 15, 2024, record date. The terms of payment is decided as the full amount of Rs 21 per share is payable on application. Through this rights issue, the company is planning to raise Rs 45.11 crores. The lead managers for this issue are not yet announced, and the registrar is Purva Sharegistry India Private Limited.
About Balkrishna Paper Mills Limited
Balkrishna Paper Mills company was established in 1975 at Maharashtra, manufacturers paper and broad based recycle pulp. Previously, the company was known as Nirvikara Paper Mills Limited. Later, the name changed to BPML, which is now popularly known as BPML. The company is a leader in the field of Coated Duplex boards. Their products are used for packaging of various industry products. Industries such as Pharma, Cosmetics, Healthcare, Readymade Garments, Instant Food Products, Match boxes, etc. The product portfolio of Balkrishna Paper includes Eco Board, Super Chromo Board, Eco White Board, Eco Kraft Back Board, Duplex Coated Board, Supreme Chromo Board. The company’s paper machines and all our critical pulp mill equipment are imported from the European manufacturer to keep the vision of manufacturing high-quality boards. There are four step by step process involved in the manufacturing process. The first one is the pulping process followed by stock preparation, then paper machines and cutting and finishing is done.
Primary Objectives of Balkrishna Paper Mills Rights Issue
The company is expected to utilise the net amount for the repayment and prepayment of certain borrowings that are availed by the company. Other than this, the amount will be used to repay the redemption of redeemable preference share capital. Also, rights issue amount will be used to meet the general corporate purposes.
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Financial Details of Balkrishna Paper Mills (Amt in Rs Crores)
Company posted a revenue of Rs 109.45 crores and 244.59 crores for the FY ending on 31 March 2023 and 31 March 2022 respectively. The revenue dropped by -55.25% and profit after tax declined by 1006.66% between the FY ended on 31 March 2023 and 31 March 2022.
| Period Ended | 31-Mar-23 | 31-Mar-22 |
| Assets | 134.8 | 187.04 |
| Revenue | 109.45 | 244.59 |
| Profit After Tax | -51.88 | -4.69 |
| Reserves and Surplus | -160.97 | -109.09 |
Important Details for Balkrishna Paper Mills Rights Issue
| Issue Open | April 2, 2024 - April 15, 2024 |
| Security Name | Balkrishna Paper Mills Ltd |
| Issue Size (Shares) | 21,479,688 |
| Issue Size (Amount) | Rs 45.11 Crores |
| Issue Price | Rs 21 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | Full amount of Rs 21 per share is payable on application. |
| Entitlement | Two Rights Equity Shares for every one fully paid-up Equity Shares held on Record Date |
Timetable of Balkrishna Paper Mills Rights Issue
| Last Date to buy shares | 14-Mar-24 |
| Record Date | 15-Mar-24 |
| Credit of Rights Entitlements | Not announced yet |
| Bid/Offer Opens On | 2-Apr-24 |
| Renunciation of Rights Entitlements | 8-Apr-24 |
| Bid/Offer Closes On | 15-Apr-24 |
| Deemed Date of Allotment | Not announced yet |
| Credit Date | Not announced yet |
| Listing Date | Not announced yet |
How to Apply for Balkrishna Paper Mills Rights Issue?
Wait for the public issue to open for subscription, then click here to apply for the Balkrishna Paper Mills Limited Rights Issue with Bigul.
How to Check Allotment Status of Balkrishna Paper Mills Rights Issue?
The registrar for Balkrishna Paper Mills Limited Rights Issue is Purva Sharegistry India Private Limited. You can check the allotment by clicking here.
FAQs
1. What is the Balkrishna Paper Mills Limited Rights Issue?
Balkrishna Paper Mills rights issue will be open from Friday, April 12, 2024 and close on Monday, April 15, 2024. The last date to buy shares is Wednesday, March 14, 2024. The record date of this new issue is Thursday, March 15, 2024.
2. When does the Rights Issue open and close?
This Rights Issue will open for subscription on April 12, 2024 and closes on April 15, 2024.
3. How can I apply for the Balkrishna Paper Mills Limited Rights Issue?
You can apply for the Rights Issue once it opens for a subscription. Just click here to apply with Bigul.
4. How can I check the allotment status of the Balkrishna Paper Mills Limited Issue?
The registrar for this right issue is Purva Sharegistry India Private Limited. Investors can check out the allotments status by clicking here.
5. What is the objective of Balkrishna Paper Mills Limited Rights Issue?
The company is expected to utilise the net amount for the repayment and prepayment of certain borrowing availed by the company. Other than this the amount will be used to repay the redemption of redeemable preference share capital.
6. What is the record date for the Balkrishna Paper Mills Limited Rights Issue?
The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for March 15, 2024.
7. Where will the Balkrishna Paper Mills Limited Right Issue be listed?
The Rights Issue will be listed on the BSE, NSE.
8. What is the entitlement ratio for the Balkrishna Paper Mills Limited Right Issue?
The entitlement ratio is set at two rights equity Shares for every one fully paid-up equity shares held on record date March 15, 2024.
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