Sagar Cements has raised Rs 350 crore by allotting 1.32 crore equity shares at a price of Rs 265 per share to PI Opportunities Fund I - Scheme II, an affiliate of Premji Invest, a leading private equity fund in India on a preferential basis in accordance with the approval accorded by the shareholders.
The investment proceeds will be largely utilized towards meeting the organic and inorganic expansion plans of the company along with funding its general corporate expenses.
Sagar Cements is a prominent player in the field of cement for adopting progressive manufacturing practices, whether it relates to maintaining high standards of quality of its products or development of its highly valued human resources or the need to keep the pollution to the barest minimum.
