Bannari Amman Sugars Ltd Share Price

Summary

Bannari Amman Group is one of the largest Industrial Conglomerates in South India with wide spectrum of manufacturing, trading and Service activities. Manufacturing and trading include sugar, alcohol, liquor, granite etc. The service sector has wind power energy, education etc. Bannari Amman Sugars Limited (BASL) was incorporated in December 1983. The company was promoted by S V Balasubramanian and K S Thirumalaiswamy to manufacture sugar in Southern India. Now, it has scattered its activities in Distillery, Granites, Co-generation of Power, Wind Mills operations. BASL came out with a public issue in Sep 1985, to set up a sugar plant in Alathukombai in Tamil Nadu. This plant was commissioned with initial capacity of 1250 tonnes of cane crush per day. It manufactures sugar using the conventional double sulphitation process. The companys success in its first venture, led the company to make a next step towards its way. In 1992 the company had set up a sugar mill with a daily cane crushing capacity of 2500 TCD in Alaganchi village, Mysore district in the state of Karnataka. This project was financed by rights issue of zero interest fully convertible debentures of Rs. 1968.75 lakhs, secured redeemable non-convertible debentures for Rs. 14 crores issued to Citibank N.A. and term loan of Rs. 8 crores received from ICICI Ltd. Total capacity of sugar mills in Tamil Nadu and Karnataka increased to 4000 TCD & 5000 TCD over the period.The company diversified its activity in several segm
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