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Kesoram Industries Ltd allots equity shares, OCRPS to lenders

Posted On: 2021-03-08 09:08:29 (Time Zone: Arizona, USA)

The Fund Raising Committee of the Board of Directors of Kesoram Industries Ltd in terms of the Resolution Plan, at its meeting held on 8th March, 2021, has approved the allotment of following securities of the Company on preferential basis through private placement to the existing lenders in part conversion of their existing debt:

- 2,22,21,262 (Two Crore Twenty Two Lakh Twenty One Thousand Two Hundred Sixty Two) fully paid-up Equity Shares having a face value of Rs. 10/- (Rupees Ten only) at a conversion price of Rs. 65/- (Rupees Sixty Five only) including a premium of Rs. 55/- (Rupees Fifty Five only) aggregating to Rs. 1,44,43,82,030/- (Rupees One Hundred Forty Four Crore Forty Three Lakh Eighty Two Thousand Thirty only) to the existing lenders.

- 4,48,97,195 (Four Crore Forty Eight Lakh Ninety Seven Thousand One Hundred Ninety Five) fully paid up Zero Coupon Optionally Convertible Redeemable Preference Shares ("OCRPS") having face value of Rs. 100/- (Rupees One Hundred only) aggregating to Rs. 4,48,97,19,500 (Rupees Four Hundred Forty Eight Crore Ninety Seven Lakh Nineteen Thousand Five Hundred only) issued to the existing lenders.

The Equity Shares and OCRPS so allotted on preferential basis through private placement shall be subject to lock-in for a period of one year from the date of trading approval.

Post allotment of Equity shares, the paid-up capital of the Company has become Rs. 1,64,81,13,410 (Rupees One Hundred Sixty Four Crore Eighty One Lakh Thirteen Thousand Four Hundred Ten only) divided into 16,48,11,341 (Sixteen Crore Forty Eight Lakh Eleven Thousand Three Hundred Forty One) Equity Shares of Rs. 10/- (Rupees Ten only) each.

Shares of KESORAM INDUSTRIES LTD. was last trading in BSE at Rs.84 as compared to the previous close of Rs. 84.6. The total number of shares traded during the day was 155310 in over 985 trades.

The stock hit an intraday high of Rs. 89.3 and intraday low of 83.25. The net turnover during the day was Rs. 13477780.

Source: Equity Bulls

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