JK Cement Ltd to raise Rs. 300 crores

The Board of Directors of JK Cement Ltd at its meeting held on June 10, 2014, has decided to raise long term funds by way of issue of Securities and/or Non Convertible Debentures with warrants on Preferential Allotment basis, Qualified Institutional Placement (QIP) basis or such other form as may be permissible under law for an amount upto Rs. 300 Crores with a green shoe option subject to shareholders' approval sought in the ensuing Annual General Meeting of the Company convened on July 26, 2014.

Shares of J.K.CEMENT LTD. was last trading in BSE at Rs.375 as compared to the previous close of Rs. 373.9. The total number of shares traded during the day was 7122 in over 629 trades.

The stock hit an intraday high of Rs. 380.8 and intraday low of 366.15. The net turnover during the day was Rs. 2654946.

Source : Equity Bulls

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