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Kesoram Industries, a BK Birla Group company, has planned to raise ₹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 ₹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 ₹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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