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

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

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

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

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?