Firm Matters

Khaitan & Co advised JK Cement Ltd in relation to completion of its acquisition of 60% of the paid-up share capital of Saifco Cements Pvt Ltd by way of purchase of equity shares from the existing shareholders of Saifco, and subscription to fresh equity shares to be issued by Saifco to JK Cement Ltd, for which the transaction documents were executed in January 2025.

This transaction marks the entry of one of the biggest national cement players – JK Cement Ltd, in the region of Jammu and Kashmir, and is the first joint venture of the region in the cement sector.

Saifco Cements Pvt Ltd, a company incorporated and operating in the Union Territory of Jammu and Kashmir, is involved in the business of manufacturing and sale of cement and clinker, having cement manufacturing plant in Jammu and Kashmir. 

The role of Firm included assistance in relation to closing of the transaction, including review of documents in relation to completion of conditions precedent, preparation and review of closing documents, purchase of sale shares and subscription to equity shares.