Emami Cement Ltd's IPO could hit the market in the next six months with SEBI approving the issue, company sources said on Wednesday.
The company is looking to raise Rs 1,000 crore through the IPO, which comprises fresh issuance of shares worth Rs 500 crore, and the rest as offer for sale from existing promoters.
Emami officials, however, declined to speak about valuations and the timeline of the issue.
"We have received Securities and Exchange Board of India approval on May 15, and we will now finalise a roadmap in consultation with the merchant bankers," a source said.
Emami Cement currently operates three manufacturing plants at Risda in Madhya Pradesh, Panagarh in West Bengal and Bhabua in Bihar, having a capacity of 5.6 million tonne.
It is also in the process of setting up a cement grinding plant at Kalinganagar, Odisha.
The company's combined installed capacity will be 9 million tonne with a clinker capacity of 3.2 million tonne.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app