JK Cement May Raise Rs 500 Crore Via NCDs
The company will conduct the fund raise in one or more tranches one year from the date of the 31st annual general meeting.
JK Cement Ltd. on Friday said that its board of directors will hold a meeting on May 24 to decide on raising funds through non-convertible debentures.
In the meeting, scheduled at the company's corporate office in Gurgaon, the board will decide on raising up to Rs 500 crore through private placement of NCDs, according to the exchange filing.
In the same meeting, the board will also discuss and approve financial results and consider dividend declarations.
The grey and white cement manufacturer will conduct the fundraise in one or more tranches one year from the date of the 31st annual general meeting.
Before issuing the debentures, the company will consider and recommend to the shareholders/members passing an enabling resolution in the 31st AGM.
The board will also consider, approve and take on record the audited financial results—consolidated as well as standalone—of the company for the quarter and year ended March 31, 2025, the regulatory disclosure added.
It will also consider the declaration of a dividend for the financial year 2024-25, if any, on equity shares of the company. However, this too is subject to confirmation by the shareholders, it stated.
Accordingly, the trading window for dealing in the company's securities is closed for designated employees/directors/promoters of the company and other connected persons from April 1, 2025, till 48 hours after the declaration/publication of the said financial results of the company, the filing added.
Shares of JK Cement Ltd. closed 1.46% higher at Rs 4,952.75 apiece on the BSE, compared to a 1.77% advance in the benchmark Sensex. However, the company’s filing happened after the stock markets had closed for Friday.
