UltraTech in talks to raise Rs 3000cr via equity: Sources

UltraTech Cement is in early stages to evaluate equity fund raising for Rs 3,000 crore, reported CNBC-TV18, quoting sources. The cement major has reached out to bankers, who are eveluating options and demand conditions for the fundraising. The move by UltraTech is aimed at paring its debt post recent acquisition of Jaiprakash Assoaciates' cement business, sources said. As of March 2016, UltraTech Cements net debt was about Rs 3,600 crore. In a clarification UltraTech said, "We wish to clarify that we are not aware of any such reports. No proposals relating to the above are under consideration." Watch video for more details