Khaitan & Co Advised JK Cement on Acquisition of 60% Stake in Saifco Cements
Khaitan & Co advised JK Cement Limited on the completion of its acquisition of 60% of the paid-up share capital of Saifco Cements Private Limited through the purchase of equity shares from existing shareholders and subscription to fresh equity shares issued by Saifco. The transaction documents were executed in January 2025.
This strategic acquisition marks JK Cement’s entry into Jammu and Kashmir’s cement market—a significant milestone as it represents the first joint venture in the region’s cement sector involving one of India’s largest national cement players.
Saifco Cements Private Limited, based in the Union Territory of Jammu and Kashmir, is engaged in the manufacturing and sale of cement and clinker, and operates a cement manufacturing plant in the region.
Khaitan & Co advised JK Cement on all aspects of the transaction, including assistance with the closing process, review of documentation relating to conditions precedent, and drafting and finalisation of closing documents, including those for the purchase and subscription of shares.
The Khaitan & Co core advisory team was led by Deepak Jodhani (Partner) and Pashupati Nath (Partner), with support from Sakshi Duggal (Senior Associate) and Swetank Neelabh (Associate). The firm’s Intellectual Property team included Nirupam Lodha (Partner) and Malika Nandkeolyar (Senior Associate), while Real Estate support was provided by Avnish Sharma (Partner), Rupali Singh (Principal Associate) and Siddharth Godha (Principal Associate).
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