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.

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