In order to meet the fund requirement for funding its long-term growth and general corporate purposes including for capital expenditure and working capital, Kanpur-based JK Cement is planning to raise up to Rs 200 crore from QIP (qualified institutional placement) issue.
In this regard, the company, with 7.5 million tonnes per annum (mtpa) capacity, has convened a meeting of shareholders on February 9. As on September-end, promoter holding in the company stood at 66.57%.
The company has four manufacturing units -- three in Rajasthan and one in Karnataka -- with a total capacity of 7.5 mtpa.