Penna Cement files draft papers with Sebi for Rs 1,550 crore IPO SECTIONS Last Updated: May 15, 2021, 04:50 PM IST Share 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 Related NSE Explore Now 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.