Kesoram Industries Rights Issue 2021

Kesoram Industries Rights Offer

Kesoram Industries Rights Issue description – Kesoram Industries is part of B.K. Birla (Basant Kumar Birla) group and is engaged in multiple businesses like cement, tyre, textiles and transparent paper in the past, although it has concentrated business interests primarily to cement and rayon over the years.

The company owns and operates two cement manufacturing facilities, located at Sedam, Karnataka and Basantnagar, Telangana. The cement business has enjoyed an operating history of over 51 years, as applicable catering to the regional demands in Maharashtra, Goa, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Kerala, Uttar Pradesh and Andhra Pradesh. The manufacturing facilities are located in proximity to its leased limestone deposits in the states of Karnataka and Telangana. As of 30 June 2021, the production capacity of cement was 10.75 MMTPA. The cement is marketed under the brand name “Birla Shakti” and “Birla Shakti Cement Shakti+”.

In addition, the company also manufactures viscose rayon, filament yarn and transparent paper through its subsidiary, Cygnet Industries Limited. The rayon and transparent paper plant is located at Hooghly, West Bengal. The rayon is marketed under the brand name “Kesoram Rayon”, while its transparent paper is marketed under the brand name “Kesophane”.

The cement and rayon (including transparent paper and chemicals) business operations contributed 91.04% and 8.96%, respectively, of the company’s total revenues for the year ended 31 March 2021. Kesoram Industries also had interest in tyres through Birla Tyres Limited but the latter company has been demerged with effect from 4 December 2019.

Promoter of Kesoram Industries – Manjushree Khaitan, Manav Investment & Trading Company Limited and Pilani Investment And Industries Corporation Limited

Kesoram Industries Rights Issue details

Subscription Dates27 September – 11 October 2021
Issue Price INR50
Issue Size (shares)7,99,99,665 shares
Issue Size (INR) INR400 crore
Face ValueINR10 per share
Terms of PaymentINR25 on application
INR25 on call within six months from allotment
Entitlement 133 shares for every 274 shares as on Record date
Record Date17 September 2021
Market Lot1 share
Listing OnBSE, NSE

Kesoram Industries Rights Issue Objectives

  • Repayment or pre-payment of inter-corporate deposit including interest – INR50 crore
  • Scheduled part-redemption of NCDs – INR55 crore
  • Redemption of OCDs in full/ NCDs in part – INR245 crore
  • General corporate purposes – INR44.3 crore

Kesoram Industries Financial Performance (in INR crore)

Net income(187.5)140.1
Margin (%)(6.98)5.14

Registrar of Kesoram Industries Rights Issue

Link Intime India Private Limited
C-101, 1st Floor, 247 Park Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]

Kesoram Industries Rights Issue Documents

Kesoram Industries Contact Details

Kesoram Industries Limited
9/1 R.N. Mukherjee Road, Kolkata 700 001, West Bengal, India
Phone: +91 33 2243 5453
Email: [email protected]

Kesoram Industries Rights Issue Schedules

Record Date: 17 September 2021
Issue Opening Date: 27 September 2021
Renunciation of Rights Entitlement: 6 October 2021
Issue Closing Date: 11 October 2021
Date of Allotment: 21 October 2021
Date of Credit: 22 October 2021
Listing Date: 28 October 2021

Kesoram Industries Rights Issue FAQs

What are Kesoram Industries Rights Issue dates?

Kesoram Industries Rights Issue opens on 27 September 2021 and closes on 11 October 2021.

What is Kesoram Industries Rights Issue price?

Kesoram Industries Rights Issue price is INR50 per share.

What is the entitlement ratio of Kesoram Industries Rights Issue?

Eligible shareholders as on record date are being offered 133 Rights Shares for every 274 Shares already held.

What is the record date of Kesoram Industries Rights Issue?

The record date of Kesoram Industries Rights Offer is 17 September 2021.


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