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.
Blackstone-backed auto parts maker Sona BLW gets SEBI nod for $817m IPO
IPO
May 12, 2021
Private equity firm, Blackstone Group Inc, promoted automotive component manufacturer, Sona BLW Precision Forgings Limited on Tuesday received consent from capital markets regulator SEBI for the initial public offering through which it plans to raise ₹6,000 crore.
“The public offer comprises of a fund raise via a fresh issuance of shares amounting to Rs. 300 cr and Rs. 5,700 cr through an offer-for-sale by shareholder Singapore VII Topco III Pte Ltd., an affiliate of The Blackstone Group Inc.,” the company said in a statement.
Kotak Mahindra Capital Company Ltd, Credit Suisse Securities Pvt Ltd, J.P. Morgan India Pvt Ltd, JM Financial Ltd and Nomura Financial Advisory and Securities Pvt Ltd are the book running lead managers for the share sale.
Sona Comstar receives SEBI nod for ₹6,000 crore IPO
May 11, 2021
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The automotive technology company is into designing, manufacturing and supply of mission-critical automotive systems and components.
PE firm Blackstone-promoted automotive supplier Sona BLW Precision Forgings Ltd has received capital markets regulator’s approval for its ₹6,000-crore initial public offering (IPO).
The public offer comprises a fundraise through the issuance of new shares of up to ₹300 crore and ₹5,700 crore through an offer-for-sale by shareholder Singapore VII Topco III, an affiliate of The Blackstone Group.
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Between FY16-20, the company total operating income grow at a compounded annual growth revenue of 10.9 per cent.