Balrampur Chini Mills Limited has received in-principle approval from the National Stock Exchange of India Limited and BSE Limited under Regulation 28(1) of the SEBI LODR Regulations for a preferential issue of up to 93,16,771 equity shares.
The equity shares carry a face value of Re 1 each and will be issued at Rs 483 per share, inclusive of a premium of Rs 482 per share, for cash consideration. The preferential issue aggregates approximately Rs 450 crore.
NSE conveyed the approval through letter NSE/LIST/54897, while BSE communicated through letter LOD/PREF/DA/FIP/292/2026-27, both dated May 27, 2026. Balrampur Chini Mills received the exchange approvals on the same day.
The in-principle approval is subject to several conditions, including filing the listing application post allotment, obtaining all required statutory approvals, submitting documents as required, and compliance with applicable regulations. Balrampur Chini Mills must obtain undertakings from proposed allottees confirming they will not engage in intra-day trading or sell shares until the allotment date.
NSE has advised Balrampur Chini Mills to strengthen internal controls for monitoring trades by proposed allottees before allotment to prevent contravention of the SEBI ICDR Regulations. The responsibility to verify such compliance rests solely with the issuer company.
The exchange retains the right to withdraw the in-principle approval if the submitted information is found to be incomplete, incorrect, or misleading. Any non-compliance observed by exchanges post-allotment may impact the listing of such shares.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.