Company News: Bio Green Papers

The board of directors of Bio Green Papers has considered and decided to acquire 49 per cent stake in Challenger Crop Care Technologies Pvt Ltd (CCCTPL) through a share swap, subject to approvals from statutory agencies. The board decided to convert the unsecured loans amounting to ₹2 crore into preference shares at a coupon rate. The board also decided to increase the authorised capital of the company, subject to approvals from statutory agencies. The board decided to hold an EGM on June 15 for these decisions. Shares of Bio Green closed flat at ₹2.49 on the BSE.