Mumbai : Shri Keshav Cement & Infra Limited (BSE – 530977), a leading manufacturer of cement and solar power in Karnataka, has announced a fund-raising initiative through a Preferential Issue of Equity Shares & Equity Share Warrants.
The company aims to raise a total of INR 45.98 Crore, comprising INR 19.65 Cr by way of 15,72,000 Equity Shares at a price of INR 125/- per share and INR 26.33 Cr by way of 20,25,000 Equity Share Warrants at a price of INR 130/- each.
Additionally, the company plans to convert unsecured loans amounting to INR 24.00 Cr from the Promoter and Promoter group into Equity Shares (19,20,000 Equity Shares at INR 125/- each).
This fund raise will enable the company to expand its total cement capacity from 3,50,000 MTPA to 10,00,000 MTPA.
Saint Capital Fund, Family office of Chindak brothers (Vega Helmets), Team India Managers Limited are some of the marquee investors participating in the fund raising.
Prime Securities Limited and New Berry Advisors Limited are the advisors to the issue.
Commenting on the performance, Mr. Venkatesh Katwa, Chairman of Shri Keshav Cement & Infra Limited said, “The funds raised will be utilized for the expansion plan of the company, which will increase our capacity to 10,00,000 MTPA. With this expansion, we will be equipped with the latest technology and equipment, modernizing our plant. Together with our captive solar plant, we expect to generate one of the highest per ton EBITDA in the industry.
Shri Keshav Cement & Infra Limited has a strong reputation for delivering high-quality products and services. With this fund-raising initiative, the company is well-positioned to continue its growth trajectory and provide value to its shareholders.”