Ballarpur Industries announced that the board of International Finance Corporation (IFC) has approved investment comprising a combination of an equity investment of up to USD 100 million and long term loans of up to USD 150 million. The proposed investments would be subject to satisfactory documentation and satisfaction of all necessary conditions of IFC.

The proposed investments will predominantly be used to prepay some of the existing debts.

As earlier informed, BPBV is also exploring the possibility of listing of its shares at an overseas stock exchange.

The company will provide further updates if and when necessary.

''With reference to the earlier announcement dated Jun. 27, 2014 regarding Bilt Paper B.V. - BPBV, a step down subsidiary of the company, is evaluating and exploring options with International Finance Corporation (IFC) for receiving a potential investment from IFC, in a combination of debt and/or equity in BPBV and/or its step down subsidiaries.''

Shares of the company gained Rs 0.7, or 3.98%, to trade at Rs 18.30. The total volume of shares traded was 1,827,903 at the BSE (11.19 a.m., Wednesday).