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Kesoram Industries Ltd allots 7,99,97,755 rights equity shares

Posted On: 2021-10-22 14:09:01 (Time Zone: IST)

The Board of Directors of Kesoram Industries Ltd at its meeting held on May 14, 2021 and August 12, 2021 and the meeting of the Committee of the Company held on Monday, September 13, 2021, had approved the offer and issue of partly paid up equity shares of the Company ("Rights Equity Shares") by way of a rights issue to eligible shareholders of the Company as on the record date for an amount not exceeding Rs. 400 crore.

Pursuant to the finalisation of the basis of allotment of the Rights Issue in consultation with the designated stock exchange, BSE Limited, the Committee, at its meeting held on October 21, 2021, considered and approved the allotment of 7,99,97,755 Rights Equity Shares at a price of Rs. 50 per Rights Equity Share (with Rs. 10 towards face value of Rights Equity Share and 40 towards the premium). At the time of application, an amount of Rs. 25 per Rights Equity Share has been paid by the eligible applicants and the remaining Rs. 25 per Rights Equity Share will be payable at the time of first and final call which can be called anytime within six months from the date of allotment of these Rights Equity Shares ("First and Final Call"). Issue of 1,910 Rights Equity Shares has been kept in abeyance by the Company due to various litigations relating to transactions in securities pending at Various Courts.

Accordingly, pursuant to the aforesaid Allotment, the paid-up equity share capital of the Company stands at Rs. 2,04,81,02,185 which includes 16,48,11,341 fully paid up equity shares of Rs. 10 each and 7,99,97,755 partly paid up equity shares of Rs. 10 each with Rs. 5 paid up on each partly paid up equity share which will be made fully paid up after the First and Final Call.

Shares of Kesoram Industries Limited was last trading in BSE at Rs. 66.80 as compared to the previous close of Rs. 65.60. The total number of shares traded during the day was 74025 in over 897 trades.

The stock hit an intraday high of Rs. 68.65 and intraday low of 65.95. The net turnover during the day was Rs. 4973685.00.

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