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KOLKATA: The rights issue of Balrampur Chini Mills Ltd, which closed on September 18, has been oversubscribed, according to a company official.

The rights issue, which opened on August 18, offered 22.75 lakh shares of Rs 10 face value and charged a premium of Rs 250 to shareholders.

The issue was managed by Enam Securities and Lodha Capital Markets.

The official said that Balrampur Chini hopes to mop up Rs 60 crore from the issue. "After the closure, we found that we have collected Rs 70 crore. Some shareholders have sought additional allotment," the official added.

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