Subject to the approval of its shareholders, JK Cement decided to issue Rs 200 crore worth of equity shares to qualified institutional buyers (QIBs).
Recently, the company secured approval from its board of directors for the fund raising plan. The issue will have a greenshoe option for an unspecified amount, the company said in a communication to Bombay Stock Exchange.
On February 9, 2013, the company called an Extra Ordinary General meeting.