JK Cement rectifies ₹0.02 Cr error in Saifco acquisition disclosure

Regarding the purchase of 60% of Saifco Cements Private Limited, JK Cement Limited (NSE: JKCEMENT, BSE: 532644) corrected a small typographical error in its June 6, 2025 exchange filing, revising the total consideration to ₹149.79 crore from the initially reported ₹149.81 crore. This clarification underscores the company’s adherence to SEBI’s disclosure norms while progressing with strategic expansion plans.

Transaction Details and Regulatory Compliance:

The revised disclosure confirms JK Cement’s investment of ₹149.79 crore to acquire 60% equity stake in Saifco Cements through a combination of share purchases from existing stakeholders and fresh equity issuance. This correction, filed under SEBI Listing Regulations (Regulation 30), addresses a ₹0.02 crore discrepancy in the original disclosure, demonstrating the company’s commitment to reporting accuracy.

JK Cement initiated this acquisition to strengthen its market position in specialty cement segments. The transaction aligns with the company’s strategy to expand production capabilities through strategic partnerships and controlled subsidiaries. Corporate governance protocols ensured prompt identification and rectification of the minor numerical error within three days of the initial filing.

Operational Implications and Corporate Governance:
The Saifco acquisition forms part of JK Cement’s broader capacity expansion strategy across its 11 manufacturing units in Rajasthan, Karnataka, Haryana, Madhya Pradesh, Gujarat, and Uttar Pradesh. This investment enhances vertical integration capabilities while optimizing production efficiency in niche cement categories.

The company’s Corporate Relationship Department emphasized its compliance framework during the clarification process, noting that such minor amendments are routine in complex financial transactions. JK Cement maintains active communication with both BSE and NSE to ensure transparent investor disclosures, as evidenced by this swift corrective filing.

Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.

Also read: JSW Energy Enhances Renewable Capacity: 281 MW Commissioned, Teams Up with Adani for 250 MW
Published on: June 8, 2025 / M Vishnu

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