Rekha Jhunjhunwala Hikes Stake In Kesoram Industries
Dec 13, 2011 | 18:56 PM IST
Dec 13, 2011 | 18:56 PM IST
Celebrity investor Rakesh Jhunjhunwalas wife Rekha has bought 60 lac shares in Kesoram Industries. With this buy Mrs. Jhunjhunwala's shareholding in this B K Birla-promoted company is somewhere around 7%. These shares were bought through rights issue. Kesoram Industries had offered its shareholders to buy additional shares in the ratio of 7:5 at Rs 65 apiece.
Through rights issue, any firm can allow the existing shareholders a right to purchase more shares in the company at a certain price.
Rekha Jhunjhunwala already had 15 lac shares costing to 3.2793 % stake in Kesoram Industries. Prior to this acquisition of shares which she did on July 3, following the allotment of 60 lac shares, Rekha Jhunjhunwala now owns 75 lac shares or 6.8326 % stakes in Kesoram Industries which has interests in areas like tyres, cement, heavy chemicals among others. Kesoram Industries is listed on the BSE, National Stock Exchange (NSC) and Kolkata Stock Exchange.
Kesoram Industries' shares were trading at Rs. 68 per share during the afternoon session on the BSE. As of March, promoters have around 27.12 % stake in the company and national insurer LIC had over 10 % stake among others.
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