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On Tuesday, JK Cement said that it will raise long-term funds of up to Rs 300 crore via debt instruments and institutional placement.
The firm in a BSE filing said, “Board of Directors of the company at its meeting held on May 23, 2015 has decided to raise long term funds by way of issue of Securities and/or Non Convertible Debentures with warrants on Preferential Allotment basis, Qualified Institutional Placement (QIP) basis or such other form as may be permissible under law for an amount up to Rs 300 crore with a green shoe option.”
This will be subject to shareholder’s approval, which will be sought at the firm’s Annual General Meeting on August 1, 2015, it added.
