JK Cement to raise long term funds amounting up to Rs 300 crorec

JK Cement has received an approval to raise long term funds for an amount of up to Rs 300 crore. The board of directors at its meeting held on June 10, 2014 has approved for the same. The company will raise 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 with a green shoe option subject to shareholders approval. JK Cement is one of the largest cement manufacturers in north India. It is also second largest producer of white cement in India. The company exports white cement to countries like South Africa, Nigeria, Singapore, Bahrain, Bangladesh, Sri Lanka, Tanzania, UAE and Nepal.