Kesoram seeks shareholders' approval for selling Laskar facility

The unit will be disposed of to Cavendrish Industries, a subsidiary and sought approval for the same

Kesoram Industries, the flagship company of the BK Birla group, has sought shareholders’ approval to hive off its tyre manufacturing facility at Laskar in Haridwar to a subssidiary of the company.

In a filing to the exchange, the company said that the unit will be disposed of to Cavendrish Industries Limited, a subsidiary and sought approval for the same. The company on February 10 had announced the decision to hiving off the tyre manufacturing unit in order to reorganise its business.There have been speculations that the company might sell off the manufacturing facility.