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 draft papers with Sebi for Rs 1,550 crore IPO
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Last Updated: May 15, 2021, 04:50 PM IST
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Synopsis
The company will issue fresh equity shares worth Rs 1,300 crore, while its promoters will raise Rs 250 crore through an offer for sale.
Penna Cements expects to use the fresh capital raised for repayment of Rs 550 crore of certain borrowings
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MUMBAI: One of southern India’s major cement producers Penna Cement has filed its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer worth Rs 1,550 crore.
The company will issue fresh equity shares worth Rs 1,300 crore, while its promoters will raise Rs 250 crore through an offer for sale.
Desperate times, desperate measures
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Tough decisions being taken; several inconvenienced
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Silver lining
In spite of the innumerable instances of the coronavirus pandemic heaping social discrimination (ostracism) on the society both during the first wave last year and the ongoing second wave now, there are umpteen examples of some individuals exhibiting human values in abundance.
In Jammikunta town of Karimnagar district, a landlord did not allow his tenant (a woman) enter the premises as she was tested COVID positive.
In another instance at Tandur, a COVID positive patient eking out a living by running a roadside eatery was ostracised socially by neighbours in the locality. Unable to withstand the ‘trauma’, the person took the extreme step to end his life by jumping in front of a moving train.
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