BSECompany Update3d ago · 11 Aug 2026, 06:19 pm
Monitoring Agency Report in respect of of the utilisation of the proceeds raised through the Preferential Issue by the Company for the Quarter ended on 30th June, 2026
Balrampur Chini Mills Ltd · 500038
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Balrampur Chini Mills Ltd has submitted a Monitoring Agency Report for the quarter ended June 30, 2026, regarding the utilization of proceeds from the Preferential Issue. The report, issued by India Ratings & Research Private Limited, states that no deviation from the objects of the issue has been observed.
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Balrampur Chini Mills Ltd - 500038 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report
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11th August, 2026
National Stock Exchange of India Limited BSE Limited
Listing Department, The Corporate Relationship Department
‘Exchange Plaza’, C/1, G Block, Bandra 1st Floor, New Trading Wing, Rotunda
Kurla Complex, Bandra (E), Building, Phiroze Jeejeebhoy Towers,
Mumbai 400051 Dalal Street, Fort, Mumbai- 400001
Symbol: BALRAMCHIN Scrip Code: 500038
Dear Sir/Madam,
Subject: Monitoring Agency Report in respect of the utilisation of the proceeds raised through
the Preferential Issue by the Company for the quarter ended on 30th June, 2026
Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”) and Regulation
173A of the Securities and Exchange Board of India (Issue of Capital and Disclosure
Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report dated 11th
August, 2026, issued by India Ratings & Research Private Limited, the Monitoring Agency, in
respect of the utilisation of the proceeds raised through the Preferential Issue by the Company,
for the quarter ended 30th June, 2026.
The aforesaid Monitoring Agency Report was duly considered by the Audit Committee and the
Board of Directors of the Company at their respective meetings held on 11th August, 2026.
The above report is also available on the website of the Company at www.chini.com.
You are requested to kindly take the above information on record.
Thanking You.
Yours faithfully
For Balrampur Chini Mills Limited
Manoj Agarwal
Company Secretary & Compliance Officer
Encl: A/a
Date: 11thAugust 2026.
Balrampur Chini Mills Limited
FMC Fortune,2ndFloor,
234/3A, A.J.C. Bose Road,
Kolkata 700020.
Subject: Monitoring Agency Report for the quarter ended 30thJune2026in relation to Preferential Issue.
Dear Sir,
Pursuant to Regulation 162A(2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations,2018
22ndApril 2026,please find enclosed
herewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards
utilization of proceeds of Preferential issuefor the quarter ended June30, 2026.
Request you to kindly take the same on records.
Thanking You,
For and on behalf of India Ratings & Research Private Limited
Name: Shrikant Dev
Designation: Company Secretary
IndiaRatings & Research Private Limited A Fitch Group Company
Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
Tel: +91 22 4000 1700 Fax: +91 22 4000 1701 CIN/LLPIN: U67100MH1995FTC140049 www.indiaratings.co.in
Report of the Monitoring Agency(MA)
Name of the issuer: Balrampur Chini Mills Limited
For quarter ended: 30thJune 2026
Name of the Monitoring Agency: India Ratings & Research Private Limited
(a) Deviation from the objects:No Deviation from the objects.
Based on the Management undertaking and as per the Statutory Auditor Certificate dated 30thJuly 2026
issued by LODHA & CO LLP., Chartered Accountants (FRN: 301051E/E300284) having UDIN
26058796ACHWVX8455* and other documents provided to us, no deviation from the objects has been
observed.
*The reference to the Statutory Auditor Certificate anywhere in the MA report refers to the said
Certificate.
(b) Range of Deviation:Not Applicable
Declaration:
We declare that this report provides an objective view of the utilization of the issue proceeds in relation
to the objects of the issue based on the information provided by the Issuer and information obtained from
sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no
independent verification of any information/ certifications/ statements it receives. This Report is not
intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever,
for loss or damage from the use of the said information. The views and opinions expressed herein do not
constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing
mentioned in this report is intendedto or should be construed as creating a fiduciary relationship between
the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also
do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.
The MA or its affiliates may have credit rating or other commercial transactions with the entity to which
the report pertains and may receive separate compensation for its ratings and certain credit-related
analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring
and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other
commercial transactions with the entity.
We have submitted the report herewith in line with the format prescribed by SEBI, capturing our
comments, where applicable. There are certain sections of the report under the title
of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the
report through stock exchanges. These sections have not been reviewedby the MA, and the MA takes no
Signature:
Name and designation of the Authorized Signatory: Shrikant Dev (Company Secretary)
Date:11thAugust 2026.
Page 1of 7
1) Issuer Details:
Name of the issuer: Balrampur Chini Mills Limited
Names of the promoters: Vivek Saraogi
Sumedha Saraogi
Avantika Saraogi
Vivek Saraogi HUF
Stuti Dhanuka
Industry/sector to which it belongs: Sugar, ethanol, and power (cogeneration) business.
2) Issue Details:
Issue/offer Period*: 20thMay 2026 to 3rdJune 2026
Type of issue (public/rights): Preferential allotment.
Type of specified securities: 93,16,771Equity Shareson preferential basis @ .483
per equity Shareswith facevalueof . 1each.
IPO Grading, if any: Not Applicable
Issue size: INR 450 Crores
3) Details of the arrangement made to ensure the monitoring of issue proceeds:
Source of information /
Comments of
certifications considered Comments of the
Particulars Reply the Board of
by Monitoring Agency for Monitoring Agency
Directors
preparation of report
Management undertaking,
Whether all utilization is as per Statutory Auditor
the disclosures in the Offer Yes Certificate, Notice to No Comments No Comments
Document? Shareholders for EGM,
Relevant Bank Statements.
Whether shareholder approval
has been obtained in case of
material deviations from NA Management undertaking. No Comments No Comments
expenditures disclosed in the
Offer Document?
Whether the means of finance
for the disclosed objects of the No Management undertaking. No Comments No Comments
issue has changed?
Is there any major deviation
observed over the earlier No NA No Comments No Comments
monitoring agency reports?
Whether all
Yes Management undertaking. No Comments No Comments
Government/Statutory
Page 2of 7
Source of information /
Comments of
certifications considered Comments of the
Particulars Reply the Board of
by Monitoring Agency for Monitoring Agency
Directors
preparation of report
approvals related to the
object(s) have been obtained?
Whether all arrangements
pertaining to technical
Yes Management undertaking. No Comments No Comments
assistance/collaboration are in
operation?
Are there any favorable events
improving the viability of these No Management undertaking. No Comments No Comments
object(s)?
Are there any unfavorable
events affecting the viability of No Management undertaking. No Comments No Comments
the object(s)?
Is there any other relevant
information that may materially
No Management undertaking. No Comments No Comments
affect the decision making of
the investors?
4) Details of object(s) to be monitored:
i. Cost of object(s)-
Source of
information / Original
Comments of the Board of Directors
certifications cost
considered by (as per the
Monitoring Offer Revised Comments Reason Particulars of
Agency for Document) Cost of the of Proposed firm
Sr. preparation of (INR in (INRin Monitoring Cost financing arrangements
No. Item Head r
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