Balrampur Chini to merge Khalilabad Sugar Mills

NEW DELHI: Balrampur ChiniMills today said it will merge Khalilabad Sugar Mills, located in Uttar Pradesh with a cane crushing capacity of 2,500 tonnes per day, with itself.

The shareholders of Khalilabad Sugar Mills would get one equity shares of Re 1 each in Balrampur Chini Mills for every 20 shares of Rs 10 each held by them.

In a BSE filing, Balrampur Chini Mills Ltd (BCML), said October 30 has been fixed as record date for the purpose of determining the eligibility of the shareholders of Khalilabad Sugar Mills Pvt Ltd (KSMPL).

"The members of KSMPL, whose names will appear in the Register of Members as on October 30, 2013 will be allotted one equity share of Re 1 each in BCML credited as fully paid up for every 20 shares of Rs 10 each held by them in KSMPL," the filing added.

The Board for Industrial and Financial Reconstruction (BIFR) had on August 14 sanctioned the modified draft rehabilitation scheme for the merger of Khalilabad Sugar Mills with Balrampur Chini Mills.

Balrampur will have to issue and alott 5,26,894 shares. The company's share price fell by 1.2 per cent to close at Rs 45.15 on BSE.

The company has sugar plants in Uttar Pradesh with a sugarcane crushing capacity at 76,500 tonne per day, distillery 320 kilo litre per day and co-generation 126 MW.


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