"The Board shall ... Consider issue of non convertible debentures (NCDs) of up to Rs 500 crore, in one or more tranches, on private placement basis subject to requisite approval of the shareholders...," the firm said in a regulatory filing.
The company's Board will meet on October 26 to consider the proposal, it added.
The firm, part of the USD 4 billion JK Group, operates integrated cement facilities at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat (Gujarat) and Jharli (Haryana).
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