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.
India new IPOs: 30 IPOs coming in next six months to leave you spoilt for choice indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Penna Cement refiles for IPO 17 May 2021
India’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale.
The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading its raw grinding and cement mill in Talaricheruvu, and INR1.1bn and INR1.30bn towards setting up waste heat recovery plants in Talaricheruvu and Tandur, respectively, according to a statement.
South Cement Major, Penna files for Rs 1550 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.
Penna Cement files DRHP with SEBI to raise ₹1,550 cr
May 14, 2021
Company targets ₹1,300 crore through fresh issue
Penna Cement Industries has filed draft red herring prospectus with market regulator for its initial public offering aimed at raising about ₹1,550 crore.
Set up in 1991, the Hyderabad-based company, is promoted by P. Prathap Reddy, Pioneer Builders and PR Cement Holdings Ltd.
It has four integrated manufacturing facilities and two grinding units in Andhra Pradesh, Telangana and Maharashtra, with an aggregate cement production capacity of 10 million tonne per annum as of 2018. It is in the process of increasing capacity to 16.50 MMTPA. The company proposes to issue equity shares of ₹10 each at a premium for cash aggregating to ₹1,550 crore comprising of fresh issue of up to ₹1,300 crore and offer of sale of shares by promoters aggregating to ₹250 crore with fresh equity shares.