Balrampur Chini EGM approves ₹450 Cr preferential issue
Balrampur Chini Mills held an EGM on May 20, 2026, via video conferencing to approve a ₹450 Crore preferential allotment of equity shares. The resolution was passed with 99.97% of votes in favour, with strong support from promoters and public shareholders. The company has submitted the voting results and scrutinizer's report to the exchanges.
*this image is generated using AI for illustrative purposes only.
Balrampur Chini Mills Limited has submitted the voting results and scrutinizer's report for its Extra-Ordinary General Meeting (EGM) held on Wednesday, 20th May, 2026. The meeting was conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM) in compliance with Ministry of Corporate Affairs and SEBI guidelines. The company disclosed that 57 members attended the meeting via VC, comprising 9 from the Promoter and Promoter Group and 48 from the Public.
Proceedings of the Meeting
Mr. Vivek Saraogi, Chairman and Managing Director, welcomed the members but recused himself from chairing the proceedings as he was interested in the proposed resolution. Dr. Indu Bhushan, Lead Independent Director, was appointed as the Chairperson. CS Mohan Ram Goenka of M/s. MR & Associates served as the Scrutinizer to ensure the voting process was conducted fairly. The remote e-voting facility was provided by KFin Technologies Limited from 17th May, 2026 to 19th May, 2026.
Preferential Allotment Resolution
The primary agenda was to seek shareholder approval for the offer, issue, and allotment of equity shares on a preferential basis to raise an aggregate amount of ₹450 Crores. The funds will be raised from promoters, the promoter group, and marquee investors.
| Resolution Details | Description |
|---|---|
| Type of Business | Special Business |
| Resolution Type | Special |
| Purpose | Offer, issue and allotment of Equity Shares on Preferential Basis |
| Aggregate Amount | ₹450 Crores |
| Target Investors | Promoters, promoter group, and marquee investors |
Voting Outcome
The special resolution to approve the preferential allotment was passed with an overwhelming majority. A total of 339 members participated in the voting process, which included remote e-voting and e-voting during the EGM. The resolution received 99.97% of the votes in favour.
| Voting Category | Votes In Favour | Votes Against | % of Votes In Favour |
|---|---|---|---|
| Promoter and Promoter Group | 8,65,45,753 | 0 | 100.00 |
| Public- Institutions | 7,00,21,642 | 38,760 | 99.94 |
| Public- Non Institutions | 5,50,672 | 691 | 99.87 |
| Total | 15,71,18,067 | 39,451 | 99.97 |
The detailed voting results and scrutinizer's report have been submitted to the Stock Exchanges and are available on the company's website.
Historical Stock Returns for Balrampur Chini Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.62% | -2.12% | +2.63% | +17.74% | -6.47% | +78.15% |
How will Balrampur Chini Mills deploy the ₹450 Crores raised through preferential allotment, and which business segments or expansion projects are likely to benefit?
What impact will the increased promoter and marquee investor stake have on Balrampur Chini Mills' stock liquidity and retail investor sentiment in the near term?
Could this capital raise signal Balrampur Chini Mills' intent to pursue acquisitions or capacity expansion in the ethanol or sugar sector amid India's evolving biofuel policy landscape?
17
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
