"BPBV has today entered into definitive agreements with IFC for subscription of new shares worth USD 100 million at an implied pre money valuation of USD 600 million," Ballarpur Industries said in a BSE filing.
"This will result into a shareholding of IFC in BPBV of 14.29 per cent," the company added.
Bilt Paper is also exploring the possibility of listing of its shares at an overseas Stock Exchange, the company said.
In June, Ballarpur had said that BPBV is evaluating and exploring options with IFC for receiving potential investment from IFC, in a combination of debt and/or equity in BPBV and/ or its step down subsidiaries.
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