Board of J K Cement approves fund raising upto Rs 1000 crore

At meeting held on 23 June 2017

The Board of J K Cement in their Meeting held on 23 June 2017 has interalia decided to offer, issue and allot equity shares and/or GDRs and/or ADRs ('Securities') for an amount not exceeding Rs. 1000 crore, to institutions, incorporated bodies, FIIs, QIBs, banks, mutual funds, insurance companies, pension funds, trusts, stabilizing agents etc, whether or not members, promoters, directors or their relatives / associates of the Company, through public issue and/or private placement and /or rights issue and / or preferential allotment and/or QIP subject to shareholders approval in 23rd AGM of the Co. convened on Saturday, 29 July 2017. The fund sought to be raised is proposed to be utilised for the purpose of funding Co.'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.

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