JK Paper allots shares to promoters on preferential basis

JK Paper has allotted 1.19 crore equity shares aggregating to Rs 50.02 crore to the promoter and promoter group firms on preferential basis.
"The Committee of Directors of the company...Has allotted 1,19,10,000 equity shares of Rs 10 each on preferential basis to the promoter and constituents of the promoter group of the company for cash at a price of Rs 42 each aggregating to Rs 50.02 crore," JK Paper said in a BSE filing.
Last month, the company informed that it was planning to further increase its exports by 25 per cent during the current year owing to availability of additional capacity.

"The company is actively involved in market expansion beyond the shores of India. The exports at over 40,000 tonnes in 2014-15 went up nearly 150 per cent over the previous year. It now aims to further increase its exports by 25 per cent during the current year," JK Paper Vice Chairman and Managing Director Harsh Pati Singhania had told reporters.
The products are being well accepted in several countries and exported to more than 40 countries including Sri Lanka, Bangladesh, the Middle East, Africa, Australia, Singapore and Malaysia, he said.
JK Paper, a part of the over 100-year old JK organisation, also reported a golden jubilee milestone after listing the company's stock in 1965.