Kesoram Industries to raise Rs 180 crore via preferential issue

Kesoram Industries, a BK Birla Group company, has planned to raise Rs 180 crore through preferential issue of equity shares to a promoter entity and issue of optionally convertible preference shares to IndusInd Bank.

The company’s board proposed to raise up to Rs 90 crore through equity issue to Manav Investment and Trading, a promoter entity, while it would issue optionally convertible preferential shares worth up to Rs 90 crore.

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.