JK Lakshmi Cement gets shareholders' nod to raise up to Rs 500 crore
JK Lakshmi Cement has received shareholders' approval to raise up to Rs 500 crore by issuing non-convertible debentures on a private placement basis.
Shareholders approved the special resolution through postal ballot, the company said in a statement.
The company had earlier said that its board has approved raising Rs 500 crore through issuance of non-convertible debentures on a private placement basis.
The board at its meeting held in October had approved "issue of Non-Convertible Debentures (NCDs) of up to Rs 500 crore, in one or more tranches from time to time, on private placement basis."