Udaipur Cement Works board approves fund raising of Rs850cr on private placement

28 Jan 2022 , 09:51 AM

Udaipur Cement Works Ltd has informed that the Board at its meeting held on January 27, 2022 inter alia considered the business related matters.

The Board has approved fund raising through Term Loans/NCDs, on private placement basis, in one or more Tranches, upto an amount of Rs850cr for part financing the Phase I of Company’s Expansion Project.

The Board has also considered and approved unaudited Financial Results of the Company for the third quarter ended December 31, 2021.

According to the filing, the meeting was commenced at 12:45 pm and concluded at 3:15 pm on Thursday.

At around 9:50 AM, Udaipur Cement Works was trading at Rs36.50 apiece down by Rs0.45 or 1.22% on Sensex.