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Our Bureau

Mumbai, July 16 Singapore-based private equity firm Bring Pvt Equity Asia has picked up 7.5 per cent stake in BSE-listed KS Oils by investing Rs 90 crore.

The promoter group will pump in Rs 100 crore by subscribing to 23,86,635 warrants convertible into one equity share of Rs 10 each.

The company has also sought board of directors’ approval for raising Rs 90 crore through GDR (global depository receipt) and Rs 120 crore via FCCB (foreign currency convertible bonds). The company will issue preferential share to various trusts for raising Rs 50 lakh. The company will raise a total of Rs 400 crore.

The company will convene extraordinary general meeting on August 8 to members approval.

KS Oil has chalked out an ambitious expansion plan involving Rs 650 crore investments, including an investment of Rs 200 crore in wind power generation and Rs 50 crore in infrastructure.

It is planning three new plants in Madhya Pradesh and two in Rajasthan. Post-expansion, the company’s oil mill capacity will rise to 4,000 tonnes from 1,250 tonnes, solvent extraction capacity to 3,600 tonnes and oil refinery capacity up to 1000 tonnes, from 300 tonnes.

More Stories on : Foreign Institutional Investors | Oilseeds & Edible Oil | Non-conventional Energy

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