Hyderabad-based Penna Cement Industries Ltd (PCIL), a privately-held cement company, has filed a draft papers with SEBI for a ₹1,550 crore Initial Public Offering (IPO). The company intends to use the funds for payment of certain borrowings and general corporate purposes
The IPO comprises a fresh issue of up to ₹1,300 crore and an offer-for-sale (OFS) of up to ₹250 crore by PR Cement Holdings, a promoter company, according to the DRHP.
Following the IPO, the firm will list its shares on the BSE and the NSE.