Kesoram Industries climbs on plan to raise Rs 180 crore via preferential issue

Kesoram Industries is currently trading at Rs 81.80, up by 1.65 points or 2.06% from its previous closing of Rs. 80.15 on the BSE.

The scrip opened at Rs. 80.40 and has touched a high and low of Rs. 83.65 and Rs. 80.40 respectively. So far 65210 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 148.85 on 13-Apr-2015 and a 52 week low of Rs. 69.50 on 15-Jun-2015.

Last one week high and low of the scrip stood at Rs. 84.10 and Rs. 72.10 respectively. The current market cap of the company is Rs. 892.97 crore.

The promoters holding in the company stood at 49.16% while Institutions and Non-Institutions held 10.23% and 40.60% respectively.

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.