The month of November 2021 is bringing a new wave of excitement in the stock market! With more than 5 biggest IPOs lined up, investors are informed to be aware of every momentum that takes place. One of the 5 major IPOs that will be going live this month is - Penna Cement Industries Ltd. So, let’s delve deep into understanding some key elements about the company!

• About the Company -

Penna Cement Industries is one of the largest privately held cement companies in India and a leading integrated cement player in terms of cement production capacity, as of March 31, 2021, with a strong brand recall in the southern and western states of India. (Source: CRISIL Report) Incorporated in 1991, with over 25 years of operations, the company has been able to leverage its brand, strategically located integrated manufacturing facilities and extensive distribution network to successfully expand its business in west and east India markets as well as Sri Lanka.

On the financial front, the revenues from operations increased by 14.25% from ₹21,676.14 million in Fiscal 2020 to ₹24,763.99 million in Fiscal 2021.

• Penna Cement Industries Ltd IPO details -

Let’s now move onto the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO viz - Penna Cement Industries Ltd IPO date and it’s share price.

• Penna Cement Industries Ltd IPO date -

According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is yet to be declared, tentatively slated to go live in the month of November 2021.

• Penna Cement Industries Ltd issue size -

The total issue size of the latest IPO of Lava International Ltd is expected to be around Rs 1550 crores.

• Penna Cement Industries Ltd IPO share price

The price band of the company’s upcoming IPO is yet to be finalised and announced by the company.

• Penna Cement Industries Ltd IPO listing

Since the IPO of Lava International Ltd   is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)

• Penna Cement Industries Ltd IPO objectives

According to the Red Herring Prospectus filed by the company, it aims to utilise the Net Proceeds towards the following defined goals:

1. Repayment/prepayment, in full or part, of certain borrowings availed by the Company;
2. Funding of capital expenditure requirements of the Company towards the KP Line II project;
3. Funding of the capital expenditure requirements of the Company towards upgrading the raw grinding and cement mill at Talaricheruvu;
4. Funding of capital expenditure requirements of the Company towards setting up the waste heat recovery plant (“WHR Plant”) at Tandur;
5. Funding of capital expenditure requirements of the Company towards setting up the WHR Plant at Talaricheruvu
6. General corporate purposes.

Conclusion

Penna Cement Industries Ltd, being one of the largest privately held cement companies in India has offered strong financials over a period of time along with its future plans of expansion looking impressive. If you want to invest in this new-age technology led company, you will first need to have an online demat account of your own! And to get it for Free*, all you need to do is sign-up with Motilal Oswal.

If you already have an existing account, you can  start your  online trading  and invest in the upcoming IPO 2023.

With a plethora of companies coming forward with their own IPOs in quick succession, you can keep a track of all the  upcoming IPOs  by regularly following our  IPO calendar.