The IPO comprises fresh issuance of shares worth Rs 500 crore, besides, an offer of sale of the same size by the company's existing promoters and shareholders, according to the draft red herring prospectus (DRHP) filed with Sebi.
The company said net proceeds raised through the issue will be used for re-payment of certain indebtedness and for other general corporate purposes.
The equity shares will be listed on BSE and NSE.
The company said it currently operates three manufacturing plants and is in the process of setting up another plant, which subject to receipt of necessary approvals, is expected to result in an aggregate installed capacity of 9.30 MMTPA of cement and 3.20 MMTPA of clinker by April 2019.
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