Ballarpur Industries Ltd has announced to put its IPO of its wholly owned subsidiary, Bilt Paper plc on hold. The decision has been taken due to the unavailability of a benchmark pricing in India.
The company informed the BSE that Bilt"s listing on the main market of the London Stock Exchange by way of an offer of new and existing shares, has seen significant interest from institutional investors in UK, Europe and the United States.
Due to the absence of benchmark pricing in india, the paper companies are unable to do the valuation. Earlier this week, International Paper announced acquistion in the Indian market and according to company, this acquisition will set a benchmark for the valuation. The acquisiition has its importance in valuation. It has impact on existing shareholders value in company.