JK Cement gets nod to raise up to Rs 1000 crore

23 Jun 2017

JK Cement has received approval to raise up to Rs 1000 crore by issuing securities like equity shares, GDRs, ADRs etc. The fund sought to be raised is proposed to be utilized for the purpose of funding the company's long term growth, repayment/prepayment of debt, general corporate purposes including capital expenditure and working capital or any other purposes as may be permissible under applicable law and approved by the Board. The Board of Directors of the Company at its meeting held on June 23, 2017 has approved for the same.

JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.

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