Kesoram Industries, a BK Birla Group company, has planned to raise Rs.180 crore through preferential issue of equity shares to a promoter entity and issue of optionally convertible preference shares to IndusInd Bank.
In a disclosure to the stock exchanges, the company said that its board proposed to raise up to Rs.90 crore through equity issue to Manav Investment and Trading, a promoter entity.
Kesoram also said that it would issue optionally convertible preferential shares worth up to Rs.90 crore.
The company would seek shareholders’ approval through postal ballot.
It further said that a committee of the board will decide and formulate details of the proposed preferential issues.
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