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JK Lakshmi Cement jumps on getting nod to raise up to Rs 300 crore through NCDs

27 Dec 2016

JK Lakshmi Cement is currently trading at Rs. 352.80, up by 6.15 points or 1.77% from its previous closing of Rs. 346.65 on the BSE.

The scrip opened at Rs. 347.80 and has touched a high and low of Rs. 358.00 and Rs. 344.10 respectively. So far 5685 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 513.75 on 06-Oct-2016 and a 52 week low of Rs. 253.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 358.00 and Rs. 333.45 respectively. The current market cap of the company is Rs. 4171.40 crore.

The promoters holding in the company stood at 45.94%, while Institutions and Non-Institutions held 33.18% and 20.88% respectively.

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.

Related JK Lakshmi Cement Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323