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JK Cement plans to raise Rs 200 crore through QIP

21 Jan 2013 Evaluate

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.

Peers
Company Name CMP
Ultratech Cement 10693.85
Ambuja Cements 356.50
ACC 1166.25
Shree Cement 21738.30
Dalmia Bharat 1639.95
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