The Delhi Police has arrested a 27-year-old man from Telangana for allegedly creating a woman's fake Facebook profile and uploading objectionable photos of her on the social media platform, officials said on Tuesday.
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Penna Cement files for US$212m initial public offering Written by Global Cement staff
17 May 2021
India: Penna Cement has filed for an initial public offering (IPO) worth US$212m. It plans to offer US$34m-worth of shares for sale and to issue equity shares worth US$177m. United News of India has reported that part of the money raised will fund capital expenditure (capex) investments worth US$58m. The company’s plans consist of a second line at its Krishnapatnam grinding plant in Andhra Pradesh, an upgrade of raw materials and clinker grinding at its integrated Talaricheruvu plant in Andhra Pradesh, and new waste heat recovery (WHR) units at its Talaricherevu plant and its integrated Tandur plant in Telangana. It additionally plans to repay previous loans.
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.