Kesoram Industries allots 2.22 cr equity shares and 4.48 cr OCRPS to lenders

In terms of resolution plan

Kesoram Industries announced that the fund raising committee of the board of the company in terms of the resolution plan, at its meeting held on 08 March 2021, has approved the allotment of the following securities of the company on preferential basis through private placement to the existing lenders in part conversion of their existing debt -

1) 2,22,21,262 fully paid-up Equity Shares having a face value of Rs. 10 at a conversion price of Rs. 65 including a premium of Rs. 55 aggregating to Rs. 1,44,43,82,030 to the existing lenders.

2) 4,48,97,195 fully paid up Zero Coupon Optionally Convertible Redeemable Preference Shares (OCRPS) having face value of Rs. 100 aggregating to Rs. 4,48,97,19,500 issued to the existing lenders.

The Equity Shares and OCRPS so allotted on preferential basis through private placement shall be subject to lock-in for a period of one year from the date of trading approval as prescribed under regulation 167 of the SEBI ICDR Regulations, 2018.

Post allotment of Equity shares, the paid-up capital of the Company has become Rs. 1,64,81,13,410 divided into 16,48,11,341 Equity Shares of Rs. 10 each.

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