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The board of directors of Kesoram Industries, on Monday, approved the terms of the issue of shares by way of a rights issue for an amount aggregating to ₹400 crore.
The company has approved the issuance of up to 8 crore (7,99,99,665) rights equity shares, for an amount aggregating up to ₹400 crore (₹3,99,99,83,250) (assuming full subscription and payment of call monies), it said in a notification to stock exchanges.
Issue details
The shareholders would be entitled to 133 equity shares for every 274 equity shares held. The record date for the same has been fixed for Friday, September 17. The issue will open on September 27 and close on October 11, it said.
The company’s board had, in August this year, approved the offer and issue of partly paid-up equity shares by way of rights issue for an amount aggregating up to ₹400 crore.
Shares of the firm closed at ₹86.20, up 3.30 per cent on the BSE on Monday.
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