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News Penna Cement cleared for initial public offering

Penna Cement cleared for initial public offering

Written by Global Cement staff 05 June 2019
  • Print

India: Penna Cement has received approval from the Securities and Exchange Board of India (SEBI) for a US$220m initial public offering (IPO). The company intends to use the funds to pay off debts and for general corporate purposes, according to the Hindu newspaper. The cement producer operates four integrated plants and two grinding plants in Andhra Pradesh, Telangana and Maharashtra that share a total production capacity of 10Mt/yr.

Last modified on 05 June 2019
Published in Global Cement News
Tagged under
  • India
  • Penna Cement
  • IPO
  • corporate
  • Shares
  • Securities and Exchange Board of India
  • Andhra Pradesh
  • Telangana
  • Maharashtra
  • GCW408
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