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Emami Cement files Rs 1,000-cr IPO papers with Sebi

Press Trust of India  |  New Delhi 

on Friday filed draft papers with capital markets regulator Sebi to raise Rs 1,000 crore through an initial share sale.

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

IIFL Holdings, Axis Capital, CLSA India, and (India) will manage the company's public issue.

The equity shares will be listed on BSE and NSE.

established an installed of 5.60 million metric tonne per annum (MMTPA) in its two years of commercial operations.

The company said it currently operates three 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 and 3.20 MMTPA of clinker by April 2019.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 12 2018. 20:10 IST