KS Oils soars on the buzz of debt restructuring

22 Sep 2011

KS Oils is currently trading at Rs 11.44, up by 0.38 points or 3.44% from its previous closing of Rs 11.06 on the BSE.

The scrip opened at Rs 10.55 and has touched a high and low of Rs 11.52 and Rs 10.20 respectively. So far 9069824 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 63.10 on 12-Nov-2010 and a 52 week low of Rs 7.70 on 17-Aug-2011.

Last one week high and low of the scrip stood at Rs 12.58 and Rs 10.20 respectively. The current market cap of the company is Rs 470.51 crore.

The promoters holding in the company stood at 30.72% while Institutions and Non-Institutions held 12.02% and 45.54% respectively.

K S Oils has approached the Corporate Debt Restructuring (CDR) cell for its entire debt of around 2450 crore, according to a media report. However, proposal may formally be admitted for CDR in the next 30 days.

The lenders comprise 10 domestic banks including SBI, Axis Bank, IDBI Bank etc and one foreign bank. The loan exposure is mainly in terms of working capital & term loans.

The State Bank of India’s exposure is estimated at around 816 crore, including derivatives exposure, while Axis Bank’s exposure is around Rs 423 crore and IDBI Bank’s exposure is around Rs 257 crore.

Related KS Oils Ltd. Links:
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323