Penna Cement files DRHP with SEBI for Rs 1,550 cr IPO

17 May 2021 CW Team

Hyderabad-based Penna Cement Industries has filed a draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise around Rs 1,550 crore through an initial public offering (IPO).

The IPO includes a fresh issue of Rs 1,300 crore and an offer for sale of up to Rs 250 crore by its promoter PR Cement Holdings. As of now, PR Cement Holdings holds a 33.41% stake in the company.

In addition, the company will use Rs 130 crore and Rs 110 crore towards setting up a waste heat recovery plant in Tandur and Talaricheruvu, respectively.

Penna Cement has a strong brand recall in the southern and western states of India. It operates out of four integrated manufacturing facilities and two grinding units across Telangana, Andhra Pradesh and Maharashtra with an aggregate capacity of 10 mmtpa as of March 2021, and the capacity is expected to reach 16.5 mmtpa by FY24.

In fiscal 2021, Penna Cement reported a profit of Rs 152.07 crore and revenue from operations stood at Rs 2,476.39 crore.

Axis Capital, ICICI Securities, Edelweiss Financial Services, Yes Securities (India) and JM Financial are the merchant bankers that will advise the company on the IPO.

This is Penna Cement's second attempt to go public. Earlier in November 2018, the company had filed draft papers with SEBI to float Rs 1,550 crore initial share-sale and had received its clearance too. However, the cement player did not launch the IPO.

Image Source

Also read: Nirma Group-backed Nuvoco files DRHP for Rs 5,000 cr IPO

Also read: Cement industry witnesses reduction in production

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..