J K Cement Today Said It Would Raise Up To Rs. 1,000 Crore

Express News Global

updated:23,2017 16:45 IST

J K Cement said it would raise up to Rs. 1,000 crore from the market
J K Cement said it would raise up to Rs. 1,000 crore from the market

New Delhi: J K Cement today said it would raise up to Rs. 1,000 crore from the market for subsidizing its long haul development, reimbursement of obligation and general corporate purposes.

The leading group of the organization in a meeting held today “chosen to offer, issue and dispense value shares or potentially GDRs and additionally ADRs…for a sum not surpassing Rs. 1,000 crore,” J K Cement educated the BSE.

The store would be “used with the end goal of subsidizing organization’s long haul development, reimbursement/prepayment of obligation, general corporate purposes including capital use and working capital”, it included.

Notwithstanding, this would “subject to shareholders endorsement” at its yearly broad meeting to be held July 29, 2017. J K Cement would raise finances through different sources, including establishments, FIIs, QIBs, banks, shared assets, joined bodies, insurance agencies and benefits reserves, it included.

Offers of the organization were at Rs. 968.60 on BSE amid evening exchange, down 1.49 for each penny from the past close.

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