Kesoram Industries receives RBI approval for proposed Rights Issue

Kesoram Industries Limited has received RBI approval for proposed issue of 64,037,512 equity shares of face value of Rs. 10/- each ("Equity Shares") for cash at a price of Rs 65/- per Equity share including premium of Rs 55/- per Equity Share aggregating to Rs 416.2 crore by Company to Equity shareholders of the Company on rights basis in ratio of seven equity shares for every five equity shares held on May 16, 2013 pursuant to RBI letter (FE.COFID.No.24684/10.21.309/2012-13) dated June 11, 2013.

Shares of Kesoram Industries Limited was last trading in BSE at Rs.65.30, down by Rs.1.95 or 2.90%. The stock hit an intraday high of Rs.67.50 and low of Rs.65.10.

The total traded quantity was 4557 compared to 2 week average of 22259.

Source : Equity Bulls

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