Emami Cement files for IPO with Sebi, proceeds to be used in debt repayment

Company to issue fresh equity shares worth Rs 5 bn; another Rs 5 bn worth of promoter group's shares to also be sold

Emami Cement, a leading cement company in eastern India, plans to go public. The company on Friday filed a draft red herring prospectus (DRHP) with market regulator Sebi.  

The company plans to issue fresh equity shares worth Rs 5 billion through the IPO. Another Rs 5 billion worth of shares belonging to the promoter group will be sold in the IPO. The issue proceeds will be used for repayment of debt and for general corporate purposes. IIFL Holdings, Axis Capital, CLSA India, Edelweiss and Nomura (India) are handling the IPO.    

Emami Cement has an installed manufacturing capacity