JK Cement said its board has approved raising up to Rs 200 crore capital by issuing shares to qualified institutional buyers (QIBs). "The board ... has approved raising of equity shares up to Rs 200 crore with greenshoe option to QIB," the cement maker said in a BSE filing. However, it did not mention the size of the greenshoe option.
Meanwhile, JK Cement said that the proposal is subject to the approval of shareholders. JK Cement has called an Extra Ordinary General meeting on February 9, 2013. JK cement's shares today settled at Rs 331.25 apeice, down 1.49 per cent over the previous closing.
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