Ballarpur Industries to receive investment from IFC

To use proposed invesments to prepay existing debts

Ballarpur Industries announced that the Board of International Finance Corporation (IFC) has approved investment comprising a combination of an equity investment of up to US$100 million and Long Term Loans of up to US$150 million.

The proposed investments would be subject to satisfactory documentation and satisfaction of all necessary conditions of IFC.

The proposed investments will predominantly be used to prepay some of the existing debts.

Meanwhile, Bilt Paper B.V. - BPBV (formerly known as Ballarpur International Graphic Paper Holdings), a step down subsidiary of the Company, is also exploring the possibility of listing of its shares at an overseas stock exchange.

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