J K Cement Ltd updates on fund raising

The Board of Directors of J K Cement Ltd in their Board Meeting held today has decided to offer, issue and allot equity shares through domestic and/or international offerings representing equity shares etc. for an amount not exceeding Rs. 700 Crores, through public issue and/or private placement and /or rights issue and / or preferential allotment and/or qualified institutional placement ('QIP') subject to shareholders approval sought in the ensuing Twenty Fourth Annual General Meeting of the Company convened on Saturday, 28th July, 2018.

The fund is proposed to be utilised for the purpose of funding Company's long term growth, repayment/prepayment of debt, general corporate purposes including capital expenditure and working capital or any other purposes as may be permissible under applicable law and approved by the Board of Directors. The meeting commenced at 12 Noon and concluded at 1.40 P.M.

Shares of J.K.CEMENT LTD. was last trading in BSE at Rs.863.9 as compared to the previous close of Rs. 874.95. The total number of shares traded during the day was 7341 in over 65 trades.

The stock hit an intraday high of Rs. 874 and intraday low of 860. The net turnover during the day was Rs. 6375667.

Source : Equity Bulls

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