J.K. Cement Limited announced that its Board of Directors approved the acquisition of cement grinding assets and associated land in Vizianagaram, Andhra Pradesh. The deal involves 0.24 MnTPA grinding capacity from Sri Chakra Cement Limited and 34 acres of land for a total consideration of Rs. 28.79 crores. The acquired grinding assets have been non-operational since April 2025. The transaction remains subject to final definitive agreements.
Board Sanctions Strategic Acquisition
During the Board Meeting held on March 27, 2026, J.K. Cement Limited (the Company) sanctioned a key strategic investment. The Board approved entering into an Asset Purchase Agreement to acquire significant assets located in Vizianagaram, Andhra Pradesh.
Key Transaction Details
The approved transaction includes the purchase of 0.24 Million Tonnes Per Annum (MnTPA) cement grinding assets currently belonging to Sri Chakra Cement Limited. Furthermore, the acquisition encompasses 34 acres of land owned by multiple landowners, including Envean Enterprises Private Limited and Sri Chakra Cement Limited.
The aggregate consideration agreed upon for this purchase is finalized at Rs. 28.79 crores. It is noted that the cement grinding assets being acquired have been non-operational since April, 2025.
Next Steps and Timeline
The successful completion of this proposed transaction is contingent upon the finalization and execution of definitive agreements and satisfaction of customary conditions precedents. The Board meeting officially commenced at 11:25 a.m. (IST) and concluded at 12:13 p.m. (IST) on the date of the announcement.
Source: BSE
