Friday, June 06, 2025 | 08:32 PM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Kesoram Industries to raise high-cost funds via FDs; to offer 12.25% rate

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

fixed deposit
premium

Representative image

Dev Chatterjee Mumbai
Kesoram Industries, owned by Manjushree Khaitan, daughter of late Basant Kumar Birla, is raising three-year deposits by offering a coupon rate of 12.25 per cent per annum. The company, which has a total cement capacity of 10.8 million tonnes per annum, plans to use the proceeds for its working capital requirements.
 
The company is raising high-cost fixed deposits after it recently raised Rs 400 crore as rights issue to repay non-convertible debentures (NCDs) of Rs 55 crore and prepay optionally convertible debentures worth Rs 294 crore. The fixed deposit rates are far higher than what is currently being offered