Hyderabad: City-based Penna Cement Industries has received approval of capital markets regulator Securities and Exchange Board of India (Sebi) to go ahead with its Rs 1,550-crore initial public offering (IPO). The IPO includes a fresh issue of Rs 1,300 crore and an offer for sale of up to Rs 250 crore by its promoter PR Cement Holdings. Currently, P R Cement Holdings holds a
Penna Cement gets Sebi nod for Rs 1,550 crore IPO equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
The six companies had filed the draft IPO papers with SEBI during May-August period, and received "observations" from the regulator between October 11-14, as per the latest update on its website.
As many as six companies, including Nykaa, Adani Wilmar and Star Health & Allied Insurance, have received capital markets regulator Sebi's go-ahead to launch initial share-sales. Apart from these, Penna Cement Industries, Latent View Analytics and Sigachi Industries too received Sebi's clearance to raise funds through the initial public offerings. These six companies, which