JK Cement Acquires 60 Per Cent Stake in Saifco Cements for Rs 1.5 Bn

09 Jun 2025 CW Team

JK Cement has announced the successful acquisition of a 60 per cent equity stake in Saifco Cements Private Limited, marking a strategic step to strengthen its presence in the Union Territory of Jammu & Kashmir. Valued at Rs 150 crore, the deal aligns with JK Cement’s long-term strategy to enhance operations and deepen market penetration across North India.

The acquisition involved purchasing shares from existing promoters along with fresh equity issued by Saifco. Following this transaction, Saifco has become a subsidiary of JK Cement, which will take over management control with immediate effect.

Saifco Cements, established in 1997, operates an integrated plant in Khunmoh, Srinagar, with a clinker capacity of 0.26 million tonnes per annum and grinding capacity of 0.42 million tonnes per annum. Its turnover stood at Rs 73 crore in FY 2024–25, compared to Rs 86 crore in FY 2023–24 and Rs 90 crore in FY 2022–23.

As part of the acquisition transition, Saifco’s board will be reconstituted to include three directors nominated by JK Cement alongside two existing directors from the promoter group.

The acquisition, conducted through cash consideration, is not classified as a related party transaction and complies fully with statutory and regulatory requirements. JK Cement noted that the move not only broadens its geographic reach but also supports its strategic priorities of capacity expansion and regional diversification.

This acquisition marks a significant milestone in JK Cement’s expansion journey, reinforcing its position as a leading player in India’s cement sector.

Infrastructure Transport

06 Aug 2026

Surya Roshni delivers customised lighting for NCRTC RRTS stations

Surya Roshni has supplied customised indoor lighting solutions for 18 elevated stations on the National Capital Region Transport Corporation's (NCRTC) Rapid Rail Transit System (RRTS), strengthening its presence in India's infrastructure lighting segment.The project involved the design and deployment of lighting systems for platforms, concourses, foot overbridges (FOBs) and back-of-house (BOH) areas. According to the company, the luminaires were developed specifically to meet NCRTC's design, operational and performance requirements rather than using standard products.Surya introduced two custo..

Hilton debuts Tapestry Collection brand in Vietnam

Hilton has opened NHAAN Resort & Spa Hoi An, Tapestry Collection by Hilton, marking the debut of the Tapestry Collection brand in Vietnam and expanding its lifestyle hospitality portfolio in Southeast Asia.Located along the Co Co River in Cam Thanh village, the 174-key resort provides access to Hoi An Ancient Town, Cua Dai Beach and the Cam Thanh Nipa Forest. The property has been designed by Vietnamese architect Vo Trong Nghia, incorporating biophilic architecture, locally sourced materials and riverfront landscapes.The resort offers a mix of guest rooms and suites, including family-frien..

Electrent expands lithium energy storage system portfolio

Electrent Energy has expanded its lithium-based energy storage portfolio with the launch of the ESS 850 and ESS 1050, targeting compact and maintenance-free power backup solutions for Indian homes.The new systems integrate a Home UPS and a LiFePO4 lithium battery into a single unit, extending the company's product range following the launch of its ESS 1350 and ESS 2500 models.Designed for apartments and smaller homes, the ESS 850 provides up to 1 hour 15 minutes of backup, while the ESS 1050 offers up to 1 hour 45 minutes on a typical 400 W household load. The systems can power essential appli..