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Kesoram Industries jumps on raising Rs 90 crore from promoter shareholder

19 Dec 2022 Evaluate

Kesoram Industries is currently trading at Rs. 60.00, up by 0.85 points or 1.44% from its previous closing of Rs. 59.15 on the BSE.

The scrip opened at Rs. 59.85 and has touched a high and low of Rs. 61.35 and Rs. 59.45 respectively. So far 34996 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 78.20 on 20-Jan-2022 and a 52 week low of Rs. 44.25 on 16-Aug-2022.

Last one week high and low of the scrip stood at Rs. 62.15 and Rs. 55.70 respectively. The current market cap of the company is Rs. 1856.22 crore.

The promoters holding in the company stood at 43.40%, while Institutions and Non-Institutions held 15.47% and 41.13% respectively.

Kesoram Industries has raised Rs 90 crore by allotting ninety lakh non-convertible preference shares to a promoter shareholder. The fund will help ease the liquidity condition of the cement maker. The face value of 'unlisted 5% non-convertible cumulative redeemable preference shares' is Rs 100 each and these shares are allotted at par on a private placement basis to Manav Investment and Trading Company, the promoter shareholder.

The company currently has an outstanding high-interest-bearing debt of around Rs 1,600 crore. The cement maker aims at bringing down the interest burden considerably by improving earnings before interest, taxes, depreciation, and amortisation (EBITDA) and replacing high-cost debt with low-interest-cost funds.

Kesoram Industries is engaged in the manufacture of cement, tyres, tubes, rayon, paper, heavy chemicals and spun pipes.

Kesoram Industries Share Price

10.60 0.50 (4.95%)
17-Apr-2026 16:59 View Price Chart
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