KM Birla writes to Sebi, seeks to shed promoter tag in Kesoram Industries

According to filings with the BSE, Kumar Mangalam directly holds 300 shares in Kesoram

Kumar Mangalam Birla, chairman of the Aditya Birla group (ABG), has written to the Securities and Exchange Board of India (Sebi), seeking reclassification from a promoter to a public shareholder in Kesoram Industries, a BK Birla group company.

Kumar Mangalam’s grandfather BK Birla, had at one point, wanted to hand over charge of Kesoram to him. Later, BK Birla’s daughter Manjushree Khaitan was made executive vice-chairperson. BK Birla continues to be the chairman. 

In the letter, Kumar Mangalam said, “With the increasing operational and regulatory complexities, I find that my classification as a promoter of companies other than those of