JK Cement allots 73,41,001 Equity Shares to QIBs

The Committee of Directors of JK Cement Ltd has, at its meeting held today i.e. December 31, 2018, approved the allotment of 73,41,001 Equity Shares to eligible qualified institutional buyers at the issue price of INR 695.80 per Equity Share (including a share premium of INR 685.80 per Equity Share), aggregating to approximately Rs. 510.79 crore.

The QIP opened on December 24, 2018 and closed on December 28, 2018.

The meeting of the Committee of Directors of the Company commenced at 11.30 A.M. and concluded at 12.15 P.M.

Pursuant to the allotment of Equity Shares in the QIP, the paid-up equity share capital of the Company has increased from Rs. 69,92,72,500 comprising of 6,99,27,250 Equity Shares to Rs. 77,26,82,510 comprising of 7,72,68,251 Equity Shares.

Shares of J.K.CEMENT LTD. was last trading in BSE at Rs.711 as compared to the previous close of Rs. 721.8. The total number of shares traded during the day was 512 in over 88 trades.

The stock hit an intraday high of Rs. 727.75 and intraday low of 711. The net turnover during the day was Rs. 365863.

Source : Equity Bulls

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