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Our Bureau

Kolkata , March 9

SHAREHOLDERS of Balrampur Chini Mills Ltd have approved the single agenda on the proposed rights issue of the company at an extra-ordinary general meeting.

Balrampur Chini has already announced a rights issue in the ratio of 12 equity share for every 100 equity shares held by the shareholders.

The rights issue is expected to hit the market some time in the middle of May and it will be managed by merchant bankers such as Enam Securities Ltd and Lodha Capital Markets Ltd.

The company has decided to charge a premium of Rs 250 for every equity share of Rs 10.

In the process, Balrampur Chini is aiming to mop up Rs 59.19 crore by issuing 22.76 lakh shares.

More Stories on : Rights Issue | Sugar

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