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 .
extractive_keyphrases: pradesh sentiments companies overseas put dependent possibilities significant firm producer deal paper proposed valuation uk ipo market selling reconsider new delhi london acquisition exchange postponed bilt indian india rerated usheadquartered possibility subsidiary issue potential rerating largest pulp shelves evaluating
abstractive_keyphrases: usheadquartered international paper andhra pradesh largest paper producer domestic paper paper companies overseas company ipo valuation better valuation midsize paper paper firm