JK Lakshmi Cement board approves raising Rs 500 cr via NCDs

JK Lakshmi Cement today said its board has approved raising Rs 500 crore through issuance of non-convertible debentures on private placement basis.

The board at its meeting held on October 26 approved "issue of Non-Convertible Debentures (NCDs) of up to Rs 500 crore, in one or more tranches from time to time, on private placement basis", JK Lakshmi Cement said in a filing to BSE.

JK Lakshmi Cement is a part of the four-billion-dollar Indian conglomerate JK Organisation.

The company operates fully computerised integrated cement facilities at Sirohi (Rajashthan), Durg (Chhatisgarh), Kalol and Surat in Gujarat and Jharli (Haryana).It currently produces 8.4 million tonnes annually and its capacity is scheduled to go up to 12 million tonnes shortly.