Penna Cement is among India’s major privately owned cement firms, with a 10-million-tonne-per-year installed capacity. It has 4 Cement Plants, 2 Grinding Units, 2 Packing Units and 1 Power Plant in different locations within India. Penna Cement IPO will hit the market in 2021.
Table of Contents
About
Penna Cement, which was incorporated in 1991, has developed itself as among the most reliable cement companies in India, with strong presence in southern and western India. Their clients ranges from individual homeowners to major real estate developers, as well as state authorities and multinational infrastructure companies.
Mission
Penna Cement believes that the organisation’s long-term success is dependent not only on long-term interactions with its clients, but also on good partnerships with all of its stakeholders.
They pay attention to their clients in order to provide them the products which work for them. They consider their suppliers as colleagues. They teach their workers how to deal with suppliers and clients with honesty and modesty.
By offering sustainable healthcare education and facilities to their regional societies, they contribute to their well-being.To minimize their environmental effect they do what is good for society, not what is convenient. They always believe in ‘Quality Relationship Building.’
Financials Trends
| Particulars | For the year ended ( in Cr.) | ||
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 3,774.43 | 3,752.23 | 3,721.84 |
| Total Revenue | 2,599.35 | 2,176.25 | 2,159.12 |
| Profit After Tax | 152.07 | 23.02 | 85.13 |
Issue
Penna Cement Industries Limited has filed Draft Red Herring Prospectus to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 1550 crore on 14 May 2021.
The Offer includes a fresh Issue of Rs. 1300 crore and an offer to sell(OFS) up to Rs. 250 crore value equity shares of Penna cement with face value Rs 10 each by the promoters.
Penna Cement also Submitted Drhp in November 2019 and got sebi’s approval as well. However, they didn’t lunched the IPO due to unknown reasons.
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Use of funds
The funds will be utilized to pay off debts totaling up to 550 crore. The pending balance under its fund-related and non-fund dependent working capital and term loan resources was 1,5488.70 million as of March 2021.
The company plans to spend up to 105 crore on capital expenditures for the KP Line II projects, as well as 80 crore on enhancing the raw grinding and cement mill at Talaricheruvu.
They are also use 110 crore for establishing the WHR Plant at Talaricheruvu, and 130 crore for establishing the WHR Plant at Tandur.
IPO Details
| IPO Opening Date | 2021 |
| IPO Closing Date | 2021 |
| Issue Type | Book Builting |
| Face Value | 10 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | 0 |
| Min Order Quantity | 0 |
| Listing At | BSE, NSE |
| Issue Size | 1550 Cr. |
| Fresh Issue | 1300 Cr. |
| Offer for Sale | 250 Cr. |
IPO Tentative Date
The Penna Cement IPO open date is 2021, and the close date is 2021. The issue may list in 2021.
| IPO Open Date | 2021 |
| IPO Close Date | 2021 |
| Basis of Allotment Date | 2021 |
| Initiation of Refunds | 2021 |
| Credit of Shares to Demat Account | 2021 |
| IPO Listing Date | 2021 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 50 |
Roughly
equivalent
|
| Non Institutional Investor | 15 |
Roughly
equivalent
|
| Retail | 35 | Minimal level of 1 lot, based on availability, for every shareholder. |
Penna Cement IPO GMP
Penna Cement IPO Grey Market Premium is INR 0.
Promoters
- P Prathap Reddy
- Pioneer Builders
- P R Cement Holdiings Limited
Promoter Holding
| Pre Issue Share Holding | 95.99% |
| Post Issue Share Holding |
IPO Prospectus
Penna Cement IPO Review
Penna Cement IPO review will depend on the price band. Whenever it will be announced we will update you regarding review of this IPO is good or bad.
Contact Details
PENNA CEMENT INDUSTRIES LIMITED
H.No. 8-2-268/A/1/S & S1, Plot No. 705, Road No. 3,
Banjara Hills, Hyderabad 500 034, Telangana, India
Tel: (+91 80) 6919 0000
E-mail: [email protected]
Website: www.pennacement.com
Registrar
KFin Technologies Private Limited
Selenium Tower-B, Plot 31 & 32, Gachibowli
Financial District, Nanakramguda, Serilingampally
Hyderabad 500 032, Telangana, India
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
Lead Manager(s)
- Edelweiss Financial Services Limited
- Axis Capital Limited
- ICICI Securities Limited
- JM Financial Limited
- YES Securities (India) Limited
We hope we are able to answer all you questions about this IPO. If you don’t have Demat account open it now with Zerodha best trading app.
FAQ
Penna Cement IPO Opening Date?
Penna Cement IPO will open in 2021.
Penna Cement IPO Allotment Date?
Penna Cement IPO Allotment Date is 2021.
Penna Cement IPO Listing Date?
Penna Cement IPO Listing date is 2021
Penna Cement IPO GMP Today?
Penna Cement IPO Grey Market Premium is INR 0.
Penna Cement IPO Price Band?
Penna Cement IPO price Band is 0 to 0.
