Edelweiss Financial has successfully closed the ~Euro 65 million Qualified Institutions Placement (“QIP”) of J. K. Cement Ltd.
About the Transaction:
This transaction is the equity capital market transaction above INR 5,000 mn for a pure-play cement company in the last decade though the deal was facing a tough equity market environment and was launched at the peak holiday season, Dec. 24, Christmas Eve. This was the first QIP to launch under the new SEBI ICDR Regulations, 2018 (with effect from November 11, 2018) & the new private placement rules (with effect from August 7, 2018) and the book was oversubscribed ~1.3x with almost 100% of the demand being procured from Long Only investors.
About J. K. Cement Ltd:
J.K. Cement is one of the leading cement manufacturers in India in terms of production capacity and one of the two major players in the white cement market in India, who together hold 80-85% of the total market share in terms of the installed capacity. As on September 30, 2018, the company’s grey cement is supplied through a network of over 11,000 dealers and retailers, while the supply of white cement and wall putty products is through a network of over 44,000 dealers and retailers.
Edelweiss Financial Services
Advised in the sale of
J. K. Cement Ltd.
to