Kolkata, Jan 31 (PTI) B K Birla Group flagship company Kesoram Industries on Monday said it has repaid Rs 285 crore of its outstanding debt.
The company had earlier repaid Rs 55 crore.
The remaining outstanding debt is Rs 1,708 crore.
“The primary objective of the rights was to retire debt. The unlisted Optionally Convertible Debentures of face value of Rs 293.87 crore were redeemed paying Rs 285 crore. The remaining NCDs and OCDs is now Rs 1708 crore,” Kesoram CFO P Radhakrishnan said.
The company had raised Rs 399 crore through a rights offer. The board has the approval to raise up to Rs 2500 crore to replace high cost borrowing Non-Convertible Debentures (NCDs) and Optionally Convertible Debentures (OCDs). PTI BSM NN NN
