Kesoram Industries has received its board’s approval to raise around Rs 650 crore through issue of securities. The board also approved disposal and transfer of the company’s Spun Pipe and the Heavy Chemicals undertakings both located in West Bengal. Such disposal will be subject to receipt of such permissions and consents, if any, that may be required.
Further, the company’s board approved divestment of certain of its investments in listed companies at prevailing market prices for the purpose of enhancing cash inflows.
Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes. KIL is also listed on Societe de la Bourse de Luxembourg stock exchange.
