Kesoram Industries Ltd board approves preferential allotment of shares, warrants

At the meeting of the Fund Raising Committee of the Board of Directors ("Committee") of Kesoram Industries Ltd ("Company") held today, i.e. Wednesday, July 21, 2021, the Committee has approved, the issue of fully paid Equity Shares on preferential basis through private placement to Usinara Trading and Services Private Limited.

Subject to receipt of requisite statutory and regulatory approval including approval of the shareholders of the Company the Committee has approved issue and allotment of upto 31,74,603 (Thirty One Lakh Seventy Four Thousand Six Hundred and Three) Equity Shares ('Preferential issue of Equity Shares') at a price of Rs. 105/- (Rupees One Hundred Five Only) per Equity Share of face value of 10/- (Rupees Ten Only) each ("the Equity Shares") at a premium of Rs. 95/- (Rupees Ninety Five Only) per share, aggregating up-to Rs. 33,33,33,315/- (Rupees Thirty Three Crore Thirty Three Lakh Thirty Three Thousand Three Hundred and Fifteen) on a preferential basis through private placement subject to compliance with applicable pricing regulations and in accordance with the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations") and applicable provisions of the Companies Act, 2013 and rules made thereunder ("Companies Act").

The board also approved issue of Fully Convertible Warrants on preferential basis through private placement to Usinara Trading and Services Private Limited.

Subject to receipt of requisite statutory and regulatory approval including approval of the shareholders of the Company the Committee has approved issue and allotment of upto 63,49,206 (Sixty Three Lakh Forty Nine Thousand Two Hundred and Six) Convertible Warrants ('Preferential issue of Convertible Warrants') at a price of Rs. 105/- (Rupees One Hundred Five Only) per warrant each convertible into 1 (one) Equity Share of face value of 10/- (Rupees Ten Only) each ("the Equity Shares") at a premium of Rs. 95/- (Rupees Ninety Five Only) per share, aggregating up-to Rs. 66,66,66,630/- (Rupees Sixty Six Crore Sixty Six Lakh Sixty Six Thousand Six Hundred and Thirty) on a preferential basis through private placement subject to compliance with applicable pricing regulations and in accordance with the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations") and applicable provisions of the Companies Act, 2013 and rules made thereunder ("Companies Act").

Shares of KESORAM INDUSTRIES LTD. was last trading in BSE at Rs. 88 as compared to the previous close of Rs. 91.45. The total number of shares traded during the day was 234207 in over 2068 trades.

The stock hit an intraday high of Rs. 93.4 and intraday low of 86.65. The net turnover during the day was Rs. 21080571.

Source : Equity Bulls

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