Udaipur Cement Works Rights Issue

Udaipur Cement Works Rights Issue will open for subscription from 21 June 2023. the company aims for an issue size of ₹448.43 Crores through this rights Issue.

About the company

Udaipur Cement Works Limited, a subsidiary company of JK Lakshmi Cement Limited, is engaged in the business of manufacturing cement and clinker. The company’s manufacturing plant is located in Udaipur, Rajasthan. The manufacturing unit has an installed manufacturing capacity of 1.50 million tonnes per annum (“MTPA”) of clinker and 2.20 MTPA of cement grinding. During the Financial Years ended March 31, 2023, and March 31, 2022, the company manufactured an aggregate quantity of 1.469 MTPA and 1.305 MTPA of cement respectively. Udaipur Cement Works Limited manufactures two types of cement:

  1. OPC, which is marketed and sold under the brand ‘Platinum Heavy Duty Cement’, and
  2. PPC, the company’s premium cement, is also marketed and sold under the brand ‘Platinum Heavy Duty Cement’.

The company supplies cement through a network of dealers to its retail customers. It also directly market and sell cement to institutional and bulk customers from the dumps. As of March 31, 2023, the company has over 56 dumps and 453 dealers, through which they market and sell cement primarily in the Indian states of Rajasthan, Gujarat, and Madhya Pradesh.

Objectives of the Issue

  • The company intends to utilize the net proceeds from the issue to partially finance the expansion and development of the Udaipur Manufacturing Plant.

Udaipur Cement Works Rights Issue Timetable

Last Date to buy shares13 June 2023
Record Date14 June 2023
Credit of Rights Entitlements20 June 2023
Bid/Offer Opens On21 June 2023
Renunciation of Rights Entitlements30 June 2023
Bid/Offer Closes On05 July 2023
Deemed Date of Allotment13 July 2023
Credit Date14 July 2023
Listing Date17 July 2023

Udaipur Cement Works Rights Issue Details

Issue OpenJun 21, 2023 – Jul 5, 2023
Security NameUdaipur Cement Works Limited
Issue Size (Shares)249,127,853
Issue Size (Amount)₹448.43 Crores
Issue Price₹18 per share
Face Value₹4 per share
Listing AtBSE
Terms of PaymentThe full amount is payable on application.
Entitlement4 Rights Equity Share(s) for every 5 fully paid-up Equity Shares held on Record Date

Company Financials

Period EndedTotal AssetsTotal RevenueProfit After TaxReserves and Surplus
(Amount in ₹ Crore)

Udaipur Cement Works Rights Issue Documents

Lead Manager(s)

  • Jm Financial Limited

Rights Issue Registrar

Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: udaipur.rights@kfintech.com

Company Contact Information

Udaipur Cement Works Limited
Shripati Nagar, CFA,
P.O. Dabok,
Udaipur 313 022

Phone: +91 294 265 5076
Email: ucwl.investors@jkmail.com

Final Thoughts

Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.

Happy investing

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