Kesoram Industries allots 75 lakh shares to Indusind Bank Ltd

Kesoram Industries Ltd has approved the allotment of 75,00,000 Equity Shares of face value Rs.10 each to Indus Ind Bank Limited ("Indus Ind") arising out of conversion of the existing 7,50,000 Optionally Convertible Preference Shares of Rs.100 each at the stipulated price of Rs.120 per Equity Share owing to exercise of the conversion option by Indus Ind.

The Board also approve dthe acquisition of the Heavy Chemicals Undertaking and the Spun Pipes Undertaking both of which were sold and transferred by the Company during the Financial Year 2015-16.

Shares of KESORAM INDUSTRIES LTD. was last trading in BSE at Rs.142.55 as compared to the previous close of Rs. 143.3. The total number of shares traded during the day was 33278 in over 455 trades.

The stock hit an intraday high of Rs. 144.45 and intraday low of 141.3. The net turnover during the day was Rs. 4748752.

Source : Equity Bulls

Keywords