document: Bilt shelves LSE issue , sees better valuation in India NEW DELHI : The country 's largest paper producer Ballarpur Industries Ltd -LRB- Bilt -RRB- has postponed the proposed public issue in London to raise $ 330 million by selling shares of an overseas arm , as it expects better valuation in India . The decision to push back the listing of its subsidiary Bilt Paper Plc on London Stock Exchange follows the acquisition of a midsize paper firm Andhra Pradesh Paper Mills by US-headquartered International Paper Co , the world 's largest pulp & paper firm . The first significant acquisition of an Indian paper firm by an overseas company was struck at a high valuation and domestic paper firms hope that the sector will get rerated by investors in India . Bilt said it believes this deal will set a benchmark for the valuation of paper companies in India and is evaluating the impact of this acquisition over the next few months , and the potential rerating possibilities , as against the IPO valuation in London at present which is dependent on the UK IPO market sentiments . '' `` In view of this , the company has put on hold the IPO process and will reconsider the same as a possibility at a later time , '' '' Bilt said on Friday .
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