1. Kesoram to raise up to Rs 650 cr via securities

Kesoram to raise up to Rs 650 cr via securities

BK Birla group firm Kesoram Industries on Saturday said its board has approved a proposal for raising up to R650 crore through issue of securities.

By: | Kolkata | Updated: December 20, 2015 12:18 AM

BK Birla group firm Kesoram Industries on Saturday said its board has approved a proposal for raising up to R650 crore through issue of securities.

“The board, which met today, approved to raise an amount not exceeding R650 crore via qualified institutional placement of shares and/or any other financial instruments or security convertible into equity, FPO, ADR/GDR/FCCB,” Kesoram Industries said in a regulatory filing. The board also approved disposal and transfer of the company’s Spun Pipe and the Heavy Chemicals undertakings both located in West Bengal.

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