Shardul Amarchand Mangaldas advises Udaipur Cement Works Limited on the Rights Issue of equity shares aggregating to ₹448.43 Crore

July 18, 2023

Shardul Amarchand Mangaldas advised Udaipur Cement Works Limited (“Issuer”) on the Rights Issue of 24,91,27,853 equity shares. The deal was valued at ₹ 448.43 crore and the rights equity shares are proposed to be listed on the BSE Limited on 17 July 2023.

Udaipur Cement Works Limited is a part of the ‘JK Organisation,’ a business conglomerate with presence in the fields of cement, tyre, paper, agriculture genetics, dairy products, education etc. and witnessed the issue being subscribed over 32 times.

The Transaction team was led by Prashant Gupta, Partner, NP Head – Capital Markets; Sayantan Dutta, Partner; Trishita Dasgupta, Principal Associate; Ankur Verma, Senior Associate; Sridutt Mishra, Associate; and Megha Mehta, Associate.

Khaitan & Co (Delhi) advised JM Financial Limited (“Lead Manager”) on the legal aspects of the deal.