Kesoram Industries approves fund raising

The Board of Directors of Kesoram Industries Limited (the "Board") at its meeting held on 19th December, 2015, which commenced at 9.30 A.M. and concluded at 3.00 P.M., has approved the fund raising / capital raising of an amount not exceeding Rs. 650 crores.

Such Fund raising / Capital raising, which will be subject to receipt of such other consents, and permissions, if any, as are or may be necessary, may take one or more of the following forms viz. qualified institutional placements of equity shares and/or any other financial instrument(s) or security convertible into equity, FPO, ADR / GDR / FCCB.

A Board Committee has been authorised to decide on the choice of instrument(s) and the detailed modalities.

Shares of KESORAM INDUSTRIES LTD. was last trading in BSE at Rs.109.4 as compared to the previous close of Rs. 105.6. The total number of shares traded during the day was 241316 in over 1531 trades.

The stock hit an intraday high of Rs. 110.8 and intraday low of 106. The net turnover during the day was Rs. 26421069.

Source : Equity Bulls

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