BILT reconsiders listing on London Stock Exchange
Ballarpur Industries has put on hold the initial public offering (IPO) of BILT Paper, its overseas subsidiary on the London Stock Exchange (LSE).
12 Apr 2011 | By PrintWeek India
The move followed after the acquisition of Andhra Pradesh Paper Mills (APPM) by International Paper.
US-based paper and packaging company International Paper Co has agreed to pay $257 million for a 53.5% stake in AP Paper. It is further eyeing a 75% stake in AP paper by paying $423 million.
This move by International Paper has prompted the possibility of re-rating of the paper industry in India.
The largest producer of paper in India, BILT will see an increase in its valuation in the paper industry.
Over the last two years, the annual paper production capacity of BILT has accelerated by nearly 90% and it plans to further increase it by an additional 50% by 2014.
US-based paper and packaging company International Paper Co has agreed to pay $257 million for a 53.5% stake in AP Paper. It is further eyeing a 75% stake in AP paper by paying $423 million.
This move by International Paper has prompted the possibility of re-rating of the paper industry in India.
The largest producer of paper in India, BILT will see an increase in its valuation in the paper industry.
Over the last two years, the annual paper production capacity of BILT has accelerated by nearly 90% and it plans to further increase it by an additional 50% by 2014.
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