Sagar Cements has raised Rs 48.88 crore through allotment of 6.11 lakh equity shares at Rs 800 a share on preferential basis. The company had already received shareholder approval for the fund-raising plans at a meeting held on November 23.
Sagar Cements is one of the most modern mini cement plants in the state of Andhra Pradesh. The plant is based on Dry Process Rotary Kiln Technology that is used in ‘Standard Quality' cement companies.