Balrampur Chini Mills approves ₹450 crore preferential allotment
Balrampur Chini Mills Limited has received shareholder approval to raise ₹450 crores through a preferential allotment of equity shares to promoters and marquee investors. The resolution was passed during an Extraordinary General Meeting (EGM) held on Wednesday, 20th May, 2026, via video conferencing. The company plans to issue 93,16,771 fully paid-up equity shares with a face value of Re. 1 each at a price of ₹483 per share, including a premium of ₹482 per share.
*this image is generated using AI for illustrative purposes only.
Balrampur Chini Mills Limited received shareholder approval to raise ₹450 crores through a preferential allotment of equity shares to promoters and marquee investors. The resolution was passed during an Extraordinary General Meeting (EGM) held on Wednesday, 20th May, 2026, via video conferencing. The company plans to issue 93,16,771 fully paid-up equity shares with a face value of Re. 1 each at a price of ₹483 per share, including a premium of ₹482 per share.
The preferential issue will see participation from the promoter group and several institutional investors. Promoters Vivek Saraogi and Sumedha Saraogi, along with Meenakshi Mercantiles Limited, are set to subscribe to a significant portion of the issue. Non-promoter investors include Tata Small Cap Fund, IKIGAI Emerging Equity Fund, Alchemy Long Term Ventures Fund, 360 One Pipe Fund, and schemes from ICICI Prudential Mutual Fund.
The voting rights for the e-voting were reckoned as on 12th May, 2026. The remote e-voting period commenced on 17th May, 2026, and concluded on 19th May, 2026. KFin Technologies Limited was engaged as the agency to facilitate the electronic voting process. The results of the voting were announced on 21st May, 2026, at the company's Registered Office.
Shareholder Voting Pattern
The special resolution regarding the preferential allotment received overwhelming approval from the shareholders. The Consolidated Scrutinizer's Report confirmed that the resolution was passed with the requisite majority.
| Particulars | Remote E-Voting | E-Voting during EGM | Total | Percentage (%) |
|---|---|---|---|---|
| Assent | 318 | 11 | 329 | 99.97 |
| Dissent | 10 | - | 10 | 0.03 |
| Total Valid Votes Cast | 328 | 11 | 339 | 100.00 |
Key Allotment Details
The funds raised through this issue will be utilized as specified in the explanatory statement to the notice. The relevant date for determining the floor price was fixed as Monday, 20th April, 2026, being the date 30 days prior to the EGM. The equity shares will be allotted in dematerialized form within a maximum period of 15 days from the date of passing the resolution, subject to receipt of necessary regulatory approvals.
| Sr. No. | Name of Proposed Allottees | Category | Maximum No. of Equity Shares | Proposed Investment Amount (₹) |
|---|---|---|---|---|
| 1 | Vivek Saraogi | Promoter | 24,00,000 | 115,92,00,000 |
| 2 | Sumedha Saraogi | Promoter | 3,45,864 | 16,70,52,312 |
| 3 | Meenakshi Mercantiles Limited | Promoter Group | 12,50,000 | 60,37,50,000 |
| 4 | TATA Small Cap Fund | Non-Promoter | 20,70,393 | 99,99,99,819 |
| 5 | IKIGAI Emerging Equity Fund | Non-Promoter | 4,55,485 | 21,99,99,255 |
| 6 | Alchemy Long Term Ventures Fund, Series 2 | Non-Promoter | 1,86,335 | 8,99,99,805 |
| 7 | Alchemy Long Term Ventures Fund, Series 3 | Non-Promoter | 62,111 | 2,99,99,613 |
| 8 | 360 One Pipe Fund | Non-Promoter | 18,21,946 | 87,99,99,918 |
| 9 | ICICI Prudential Emerging Leaders Fund - Series II | Non-Promoter | 1,03,519 | 4,99,99,677 |
| 10 | ICICI Prudential Equity Opportunities Fund Series -II | Non-Promoter | 3,10,559 | 14,99,99,997 |
| 11 | ICICI Prudential Alpha Opportunities Fund | Non-Promoter | 3,10,559 | 14,99,99,997 |
| Total | 93,16,771 | 450,00,00,393 |
The Board of Directors has been authorized to complete the allotment process, including accepting modifications to the terms of issue without further shareholder consent, subject to applicable laws and SEBI regulations.
Historical Stock Returns for Balrampur Chini Mills
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.94% | -0.62% | -2.52% | +22.61% | -8.92% | +61.77% |
How will Balrampur Chini Mills utilize the ₹450 crore capital infusion to drive growth in the upcoming fiscal year?
What impact will the 19% dilution of equity shares have on the company's earnings per share (EPS) for existing shareholders?
Does the significant participation from marquee institutional investors signal a potential turnaround in the sugar industry's outlook?
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