IFC garners 14.29% shareholding in BPBV
Ballarpur Industries announced that Bilt Paper B.V. (BPBV) (formerly Ballarpur International Graphic Paper Holdings B.V.), a step down subsidiary of the Company has entered into definitive Agreements with International Finance Corporation, USA (IFC) for subscription of new shares worth US$100 million at an implied pre money valuation of US$ 600 million. This will result into a shareholding of IFC in BPBV of 14.29%.The subscription of shares remains subject to fulfillment of conditions set out in the definitive documents. The Company also announced that BPBV is exploring the possibility of listing of its shares at an overseas Stock Exchange.
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