ANI PR Wire
18 Mar 2023, 15 GMT+10
Mumbai (Maharashtra) [India], March 18 (ANI/PNN): 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."
Incorporated in the year 1993, Shri Keshav Cement & Infra Limited (KCIL), formerly Katwa Udyog Limited) is engaged in the manufacturing of Cement and Solar Power Generation and Distribution in the state of Karnataka, India.
The Business segments are divided into two verticals 1) Manufacturing of cement 2) Generation of Electricity using Solar Power. The cement plants are located in Bagalkot district, Karnataka and the Solar power plant is located at Koppal, Karnataka.
The Company manufactures 43 grade and 53 grade Ordinary Portland Cement. The inception of the company began with the acquisition of a sick cement plant of 20 TPD (Tons per day) in 1994. The capacity of the plant gradually increased year after year to reach 600 TPD. The further acquisition has added 300 TPD to the existing capacity. The current capacity of the company is 1,100 TPD with two cement manufacturing plants - one operating with a vertical shaft kiln (VSK) having a capacity of 300TPD in Kaladgi, Bagalkot and another unit having a capacity of 800 TPD operating with rotary kiln technology located at Nagnapur, Bagalkot.
The company owns three very renowned regional brands of cement "Jyoti Power", "Jyoti Gold" & "Keshav Cement". The company supplies cement in North Karnataka, Coastal Karnataka, Goa and some parts of Maharashtra and Kerala. "Keshav Cement" is a premium brand of the company. SKCIL has been producing cement by using 100% green energy (Solar) since April 2018.
The cement industry is highly energy-intensive, and power cost constitutes around 30% of the manufacturing cost in the cement manufacturing process. The current power requirement of the cement plants is 12 MW. The Company has two power plants that cumulatively generate 37 MW of power. After using it for its business operations, the balance of 25 MW is sold by the Company.
The other group companies are Katwa Infotech Pvt Ltd and Neel Holistic Infra Pvt Ltd (formerly known as Katwa Construction Pvt. Ltd). The shares of SKCIL are listed on BSE (530977).
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
Get a daily dose of Bangladesh Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Bangladesh Sun.
More InformationVaranasi (Uttar Pradesh) [India], March 25 (ANI): Prime Minister Narendra Modi who was in Varanasi on Friday to launch several ...
Mumbai (Maharashtra) [India], March 24 (ANI): Ahead of the sixteenth edition of the Indian Premier League, Mumbai Indians launch their ...
New Delhi [India], March 24 (ANI): On the back of outstanding campaigns, India and China will be leading the field ...
New Delhi [India], March 24 (ANI): Inaugrating the public ropeway project here, Prime Minister Narendra Modi on Friday said it ...
Mumbai (Maharashtra) [India], March 24 (ANI): It's a proud moment for Abhishek Bachchan as he held the trophy for his ...
New Delhi [India], March 23 (ANI): Prominent Indian pugilists Nitu Ghanghas, Nikhat Zareen, Lovlina Borgohain and Saweety Boora produced powerful ...
NEW YORK, New York - Wall Street jumped on Friday, although gains were modest after bank shares in Europe came ...
LOS ANGELES, California: Some 30,000 education workers in Los Angeles, backed by teachers, went on a three-day strike, canceling school ...
LONDON, England: Despite rising air fares, a potential global economic recession and risks of gridlock at some airports in Europe ...
WASHINGTON D.C.: The US Commerce Department has proposed new laws aimed at preventing China and other countries deemed of concern ...
NEW YORK, New York - As concerns over the banking sector eased, U.S. stocks moved moderately higher on Thursday, but ...
MEXICO CITY, Mexico: Amid Tesla's plan to open a $5 billion Gigafactory in the country, Mexico will soon become an ...