Kanodia Cement Limited Files DRHP with SEBI for Initial Public Offering
Bengaluru: Kanodia Cement Limited, a leading cement manufacturing company operating in Uttar Pradesh and Bihar, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The company plans to raise funds through the offer of equity share capital via IPO, comprising an ‘Offer for Sale’ of up to 14,913,930 equity shares with a face value of ₹10 each.
Kanodia Cement is one of the pioneers in contract manufacturing of cement in India, operating five satellite grinding units with an aggregate cement manufacturing capacity of 3.54 MTPA. The company has demonstrated rapid growth, with its installed cement grinding capacity growing at a CAGR of 22.12% from Fiscal 2014 to Fiscal 2024.
The company has also shown impressive growth in sales volume and revenue from operations, with a CAGR of 36.14% and 34.83%, respectively, from Fiscal 2022 to Fiscal 2024. This growth outpaces the industry average and peer average, making Kanodia Cement one of the fastest-growing cement manufacturers in India.
Anand Rathi Advisors Limited, IIFL Capital Services Limited, and Oneview Corporate Advisors Limited are the Book Running Lead Managers (BRLMs) to the issue.
