Jhunjhunwala hikes stake in Kesoram Industries to nearly 7%

July 10, 2013 15:00

Ace investor Rakesh Jhunjhunwala's wife Rekha has acquired 60 lakh shares in Kesoram Industries taking her shareholding in the B K Birla-promoted company to around seven per cent. The shares were acquired through rights issue. The companyhad recently offered its shareholders to buy additional sharesin the ratio of 7:5 at Rs 65 apiece.

Through rights issue, a firm allows existing shareholders a right to buy additional shares in the company at a specific price. Rekha Jhujhunwala had 15 lakh shares, amounting to 3.2793 per cent stake in Kesoram Industries before the acquisition of shares, credited to her account on July 3.

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