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JK Cement to fundraise Rs 500 cr via NCDs on private placement

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Promoter & Promoters Group held a 45.82% stake in JK Cement

JK Cement Limited plans to fundraise around Rs 500 crore through non-convertible debentures (NCDs) based on private placement in one or more tranches.

The board has recommended the proposal for approval of shareholders in the next annual general meeting (AGM) of the company.

The company said that the fundraising would have an interest rate determined by the prevailing money market conditions during the time of borrowing.

The board has forwarded the request from some individuals or companies belonging to persons concerned with Promoters Group seeking reclassification of their stakes in JK Cement to the Public Category.

During the March-end quarter of 2022, JK Cement, the promoter and promoter group, held a 45.82% stake in the company.The company had reported a 6.93% decline in its consolidated net profit at Rs 199.44 crore for the fourth quarter.

The company had reported a net profit of Rs 214.31 crore during the same period last year.

Its revenue from operations was Rs 2,351.16 crore during the quarter under review, against Rs 2,134.14 crore, during the same period last year.

The fiscal year ended on 31 March 2022, and revenue from operations was Rs 7,990.81 crore, against Rs 6,606.10 crore last year.

The company’s board has recommended a dividend of 150%, which is Rs 15 per equity share of Rs 10 per share for 2021-22.

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Also read: JK Cement set to enter paints business

Concrete

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

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