Balkrishna Industries gets nod to raise Rs 750 crore via NCDs [Automobile & Ancillaries]
AI Summary1 min read
TL;DR
Balkrishna Industries has received approval to raise Rs 750 crore through Non-Convertible Debentures (NCDs). The company specializes in the capital-intensive off-highway tire segment, serving global markets like Europe and America.
Tags
Tyres & AlliedAutomobile & AncillariesBalkrishna IndustriesNCDsOff-Highway TiresCapital RaisingAutomobile Ancillaries
The company is primarily engaged into Specialty ‘Off Highway Tire segment' which is consisting of Agriculture, Industrial, Construction, Earthmoving, Mining, Port, Lawn and Garden and All-Terrain Vehicle (ATVs) Tires, etc. This segment is highly technical & capital intensive and known as ‘large varieties low volume segment' where any credible player needs to maintain large number of Stock Keeping Units (SKUs) to meet the diverse requirement of its customers worldwide. While the sub segment (agriculture) is largely known as non-cyclical in nature, the other sub segment (industrial, construction and mining) is generally considered as cyclical and the performance of it is largely linked to overall economic outlook of the world. The market for company's products is mainly Europe, America, Australasia and India.