Kesoram Industries

To offer 12.25% rate; plans to use proceeds for working capital, pare debt

NBFCs may be in focus today on reports of 17 per cent YoY growth in sanctioned loans in Q2FY22

B K Birla Group company Kesoram Industries is likely to offer a hefty discount of 30 per cent or more from market price in proposed upcoming rights offer to reward shareholders, company sources said.

The decision was taken in deference to the views and intent expressed by a cross section of shareholders

The company informed bourses that it has also raised Rs 1,603 crore via NCDs with maturity in February 2026, and optionally convertible debentures amounting to Rs 459 crore

Kesoram Industries Ltd is focusing on a sustainable turnaround and expecting to conclude its second phase of restructuring process by inducting a strategic investor into it

Eldeco Housing and Industries Ltd on Friday reported a 96 per cent increase in its net profit at Rs 15.78 crore for the quarter ended September.

The funds could be raised by way of equity, or debt including NCDs, preference shares and also rights issue or preferential allotment or a combination

The funding for this project will be from internal accruals with inter-company deposits likely to be the preferred instrument of choice.

Loss from Kesoram Industries' tyre business widened to Rs 22.61 crore

Manjushree Khaitan named as chairman of the company after her father Basant Kumar Birla passed away earlier this month

Initially, the Birla Tyre passenger car tyres will be available only at metro locations and then scaled up gradually across its 1,700 dealers and 135 distributors

BM Birla group firm rides on strong cement volumes, healthy prices and cost rationalisation to deliver Rs 8.8 cr profit

Since November 13, post-September quarter results (Q2FY19), the stock has climbed 61 per cent from Rs 60 to Rs 97 (as of Tuesday's close) against 2.8 per cent rise in the S&P BSE Sensex

The 7.5 million tonne cement business of the company will remain with Kesoram Industries post this demerger

Radhakrishnan said the group will be able to leverage its potential in each of the segments through this demerger

The stock moved higher by 8% to Rs 99, rallying 65% from Rs 60 as compared to a 2.6% rise in the S&P BSE Sensex, since November 13, 2018.

Minority shareholder Janardan Kothari had made the allegations at the company's annual general meeting

For the year ended March 31, 2018, Kesoram posted a loss of Rs 4.63 billion

Kesoram's main line of businesses would continue to be tyre, cement and rayon