JK Lakshmi Cement Ltd executes corporate guarantees in favour of lenders of Udaipur Cement Works Ltd

JK Lakshmi Cement Limited has executed today i.e. 1st March 2024 Corporate Guarantees aggregating to ₹ 350 Crore in favour of the Term Lenders who have given Term Loans to Udaipur Cement Works Limited (UCWL), a subsidiary company. Simultaneously, UCWL has redeemed its outstanding Non-convertible Debentures (NCDs) of ₹ 350 Crore today and the Corporate Guarantee given by the Company to Debenture Trustee against these NCDs stands released accordingly. Thus, no additional Corporate Guarantee has been given by the Company on behalf of UCWL and the aggregate amount of the Corporate Guarantees of ₹ 1,640 Crore given by the Company on behalf of UCWL remains the same.

Shares of JK Lakshmi Cement Limited was last trading in BSE at Rs. 941.10 as compared to the previous close of Rs. 917.05. The total number of shares traded during the day was 6844 in over 467 trades.

The stock hit an intraday high of Rs. 950.00 and intraday low of 924.30. The net turnover during the day was Rs. 6434025.00.

Source : Equity Bulls

Keywords

JKLakshmiCement INE786A01032 CorporateGuarantee UdaipurCementWorks