Kesoram Industries board gives nod to raise up to Rs 2500cr
Kolkata Nov 20 PTI B K Birla Group flagship Kesoram Industries board on Saturday approved to raise fund up to Rs 2500 crore to lower the cost of borrowing to replace high-cost NCDs and OCDs The company had raised about Rs 1900 crore Non-Convertible Debentures NCDs and Optionally Convertible Debentures OCDs in the past for bank debt restructuring at nearly 20 per cent interest rate through a private placement The company informed that it can raise the fresh funds by way of equity bond foreign currency floats or other instruments The company recently had a rights issue of Rs 400 crore With Rs 200 crore raised as part payment from the rights offer the working capital issue has been largely resolved officials said The remaining Rs 200 crore will be collected later they said The company is expected to be Rs 550-600 crore EBITA Earnings Before Interest Taxes and Amortisation company in FY22 And this will rerate the company in terms of borrowing capabilities the officials said PTI BSM MM MM
Kolkata Nov 20 PTI B K Birla Group flagship Kesoram Industries board on Saturday approved to raise fund up to Rs 2500 crore to lower the cost of borrowing to replace high-cost NCDs and OCDs The company had raised about Rs 1900 crore Non-Convertible Debentures NCDs and Optionally Convertible Debentures OCDs in the past for bank debt restructuring at nearly 20 per cent interest rate through a private placement The company informed that it can raise the fresh funds by way of equity bond foreign currency floats or other instruments The company recently had a rights issue of Rs 400 crore With Rs 200 crore raised as part payment from the rights offer the working capital issue has been largely resolved officials said The remaining Rs 200 crore will be collected later they said The company is expected to be Rs 550-600 crore EBITA Earnings Before Interest Taxes and Amortisation company in FY22 And this will rerate the company in terms of borrowing capabilities the officials said PTI BSM MM MM
