Ballarpur Industries Limited (BALLARPUR)

Ballarpur Industries Limited has approved the allotment of 2,000 listed, rated, unsecured, redeemable Non-Convertible Debentures (NCDs) aggregating to ₹20 crore on a private placement basis. This forms the second tranche under its ₹100 crore NCD program, following ₹57.50 crore raised earlier in September 2026. The 3-year zero-coupon debentures are allotted to Whole Time Director Hardik Bharat Patel, maturing on November 1, 2029. The funds are earmarked for working capital requirements, repayment of existing borrowings, and capex.

• Allotment of 2,000 NCDs of face value ₹1,00,000 each, raising ₹20 crore.
• Part of an aggregate board-approved NCD issuance limit of up to ₹100 crore.
• Tenure of 3 years with zero coupon, maturing on November 1, 2029.
• Allotted to insider/Whole Time Director Hardik Bharat Patel for working capital, debt repayment, and capex.

Ballarpur Industries Limited has issued a Postal Ballot notice seeking shareholder approval for special resolutions under Sections 180(1)(a), 180(1)(c), 185, and 186 of the Companies Act, 2013. These resolutions authorize the Board to borrow funds and create charges or mortgages over company assets to secure borrowings. The remote e-voting window runs from October 17, 2026 to November 15, 2026, with the cut-off date set at October 09, 2026. Results will be declared on or before November 17, 2026.

• Seeking shareholder approval for borrowing limits and asset charging under Sections 180(1)(a), 180(1)(c), 185, and 186
• Remote e-voting period opens at 10:00 AM IST on October 17, 2026 and closes at 05:00 PM IST on November 15, 2026
• Record/Cut-off date for eligibility to vote established as Friday, October 09, 2026
• Postal ballot results to be declared on or before 05:00 PM IST on Tuesday, November 17, 2026

Ballarpur Industries Limited announced the closure of its trading window from October 1, 2026, until 48 hours after the declaration of financial results for the quarter and half-year ended September 30, 2026. The closure applies to Directors, Designated Persons, and their immediate relatives under SEBI Insider Trading Regulations. The filing also reiterated that trading in the company's equity shares has remained suspended on stock exchanges since June 23, 2023, following capital reduction under an NCLT-approved Resolution Plan.

• Trading window closes on October 1, 2026, for designated insiders
• Window remains shut until 48 hours post declaration of results for the quarter ended September 30, 2026
• Equity trading continues to be suspended since June 23, 2023, due to NCLT capital reduction order

Promoter entity Finquest Financial Solutions Private Limited submitted an annual declaration under SEBI SAST Regulation 31(4) for the financial year ended March 31, 2026. The promoter, promoter group, and PAC hold 2,80,50,000 equity shares, representing 51% of Ballarpur Industries Limited. The declaration confirms that no encumbrances, direct or indirect, were created on these shares during FY2026. This is a mandatory annual statutory filing confirming an unencumbered promoter shareholding.

• Promoter group holds 2,80,50,000 equity shares in the company
• Promoter holding stands at 51% of total shareholding as of March 31, 2026
• Zero shares were encumbered directly or indirectly during FY ended March 31, 2026

Ballarpur Industries Limited has allotted 5,750 listed, rated, unsecured, redeemable Non-Convertible Debentures (NCDs) aggregating to ₹57.50 crore on a private placement basis. The NCDs have a face value of ₹1,00,000 each and carry a zero-coupon structure with a 3-year tenure, maturing on September 21, 2029. The allotment was made to Infotel Technologies Private Limited and Belgrave Investment Fund. The proceeds are intended to fund the company's working capital requirements.

• Allotment of 5,750 unsecured redeemable NCDs aggregating to ₹57.50 crore
• Zero coupon instrument with a 3-year tenure maturing on September 21, 2029
• Allotted to two investors: Infotel Technologies Private Limited and Belgrave Investment Fund
• Capital raised explicitly earmarked for working capital requirements
• Default interest specified at 2% p.a. over coupon rate in case of delayed payment or redemption

Ballarpur Industries Limited has issued an intimation regarding its 81st Annual General Meeting (AGM) for FY 2025-26, scheduled for Friday, September 25, 2026, at 11:30 AM IST via Video Conferencing. The company has sent communications to shareholders with unregistered email IDs providing the web link to access the FY 2025-26 Annual Report. The cut-off date for eligibility is set as Friday, September 18, 2026. The communication also reminds physical shareholders to update KYC details in compliance with SEBI norms.

• 81st AGM scheduled for Friday, September 25, 2026, at 11:30 AM IST via VC/OAVM
• Cut-off date for shareholders fixed as Friday, September 18, 2026
• Annual Report for FY 2025-26 made available on the company website
• Reminder issued to physical shareholders for mandatory KYC updation per SEBI circular dated May 07, 2024

Ballarpur Industries Limited has issued the notice for its 81st Annual General Meeting scheduled for September 25, 2026. The integrated Annual Report highlights that the company resumed commercial production on December 01, 2025, after complying with the NCLT-approved Resolution Plan obligations between June 12, 2023, and June 11, 2026. The disclosures also detail proposed unsecured borrowings at an interest rate of 9% p.a. for a 1-year maturity. Post-transaction, the company's Debt-to-Equity ratio is projected to rise from 2.39 to 3.15, while the FY26 Debt Service Coverage Ratio stands at -0.37.

• 81st AGM scheduled to be held via video conferencing on September 25, 2026, at 11:30 AM IST.
• Commercial production resumed on December 01, 2025, following NCLT resolution plan compliance.
• Proposed unsecured borrowing terms disclose an interest rate of 9% p.a. with 1-year maturity.
• Debt-to-Equity ratio expected to rise from 2.39 to 3.15 post-borrowing, with DSCR at -0.37 for FY26.

India Ratings & Research has withdrawn the credit rating for Ballarpur Industries' 11.75% Non-Convertible Debentures (NCDs) effective July 17, 2026. This action is procedural, as the underlying debt was fully settled and extinguished on March 31, 2023, under a court-approved Resolution Plan. The withdrawal follows formal confirmation from NSDL regarding the status of these instruments. This filing represents the administrative closure of legacy debt obligations from the company's insolvency period.

• India Ratings withdrew the rating for 11.75% NCDs (ISIN: INE294A07125) on July 17, 2026.
• The NCDs were settled and extinguished on March 31, 2023, per the NCLT-approved Resolution Plan.
• The Resolution Plan was originally approved by the NCLT Mumbai Bench on March 31, 2023.
• The withdrawal was finalized following receipt of confirmation from NSDL regarding the settlement.

Ballarpur Industries has issued a corrigendum to its July 14, 2026, board meeting outcome regarding a ₹100 crore fundraise. The company clarified that it will issue 10,000 Non-Convertible Debentures (NCDs) at a face value of ₹1,00,000 each, correcting a previous clerical error that stated 100 NCDs at ₹1 crore each. The total issue size remains unchanged at ₹100 crores. These NCDs are unsecured, carry a 3-year tenure, and offer a 0% coupon with a 9% annual IRR redemption premium.

• Total fundraise amount remains unchanged at ₹100 Crores via private placement.
• Number of NCDs corrected from 100 units to 10,000 units.
• Face value per NCD corrected from ₹1,00,00,000 to ₹1,00,00,000 to ₹1,00,000.
• Instrument carries a 0% coupon rate with a 9% IRR redemption premium on an annual basis.
• Tenure of the unsecured NCDs is fixed at 3 years from the date of allotment.