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Outcome of board meeting of Kesoram Industries

Capital Market 

Held on 14 June 2017

The Board of Industries at its meeting held on 14 June 2017 has approved the following -

Allotment of 75,00,000 Equity Shares of face value Rs.10 each to IndusInd Bank arising out of conversion of the existing 7,50,000 Optionally Convertible Preference Shares of Rs.100 each at the stipulated price of Rs.120 per Equity Share owing to exercise of the conversion option by IndusInd Bank.

Acquisition of the Heavy Chemicals Undertaking and the Spun Pipes Undertaking both of which were sold and transferred by the Company during the Financial Year 2015-16.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 13:48 IST