Kanodia Cement's IPO Gambit: A Bold Move in the Cement Industry
Kanodia Cement, a key player in the cement manufacturing sector, is seeking approval from SEBI for its IPO, entirely an Offer For Sale of 1.49 crore shares. Operating in Uttar Pradesh and Bihar, the company is noted for its rapid growth in cement grinding capacity, achieving a CAGR of 22.12%.
- Country:
- India
Kanodia Cement, a prominent entity in the cement industry, has submitted preliminary documents to the Securities and Exchange Board of India (SEBI) for its planned Initial Public Offering (IPO).
The IPO, as laid out in the draft red herring prospectus filed on Thursday, is entirely structured as an Offer For Sale (OFS), comprising 1.49 crore shares from promoters and an individual shareholder.
Serving Uttar Pradesh and Bihar, Kanodia Cement distinguishes itself with its advanced Satellite Grinding Units, offering resilient growth and specialization in blended cement varieties, boasting an impressive CAGR in its capacity, making it a watchful player in the sector.
(With inputs from agencies.)
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