Kesoram Industries Limited announced a private placement of 5% 9,000,000 non-convertible cumulative redeemable preference shares at a price of INR 100 per share for gross proceeds of INR 900,000,000 on November 8, 2022. The transaction will include participation from Manav Investment & Trading Company Limited. The shares will carry dividend rate of 5% interest rate.

The shares will proposed to be issued for a period not exceeding 10 years and shall be redeemed at maturity at par. The transaction has been approved by the board of directors of the company.