IndusInd Bank has acquired the equity shares of Kesoram Industries pursuant to conversion of Optionally Convertible Redeemable Preference Shares. The Bank has acquired 75,00,000 equity shares of Rs 10 each, pursuant to exercise of conversion option on Optionally Convertible Redeemable Preference Shares, i.e., conversion of each Optionally Convertible Preference Share held by the Bank into 10 equity shares of Kesoram Industries at a price of Rs 120 per equity share.
Kesoram Industries is in the business of manufacturing and marketing of tyres and cements.
As on March 31, 2017, IndusInd Bank has 1200 branches, and 2036 ATMs spread across 683 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi.
