Kesoram Industries share price rises 5% on fund-raising plan
The company plans to raise funds to the tune of Rs 1,200 crore.
February 18, 2020 / 12:11 PM IST
Kesoram Industries share price rose 5 percent intraday on February 18 after the board approved a fund-raising plan of up to Rs 1,200 crore.
During the day, the share touched a 52-week low of Rs 42.
At a meeting on February 18, the company's board approved a fund-raising plan of an amount aggregating up to Rs 1,200 crore, by way of debt, issue of equity shares, convertible securities or any other securities, by way of one or more kinds of issue, including, public issue, rights issue, preferential issue and qualified institutional placement.
A committee of the board will decide on fund-raising details such as the security type, issue size, price, record date, allottees and timing of the issue.
At 1144 hours, Kesoram Industries was quoting at Rs 44.10, up Rs 1.05, or 2.44 percent, on the BSE.