JK Lakshmi Cement gets nod to raise up to Rs 300 crore through NCDs

JK Lakshmi Cement has decided to raise up to Rs 300 crore by issue of Non-Convertible Debentures (NCDs) on private placement basis. Tenure of these bonds will be 60 months and will carry a coupon rate of 8.70 to 8.90%. The board of directors of the company in its meeting held on December 26, 2016 has approved for the same.

JK Lakshmi Cement, part of the $4 billion JK Group, operates integrated cement facilities at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat (Gujarat) and Jharli (Haryana). Currently, it produces 8.4 million tonnes annually and its capacity is scheduled to go up to 12 million tonnes per annum shortly.