Emami Cement has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). 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.
The funds will be utilized towards re-payment of certain indebtedness and for other general corporate purposes. IIFL Holdings, Axis Capital, CLSA India, Edelweiss Financial Services and Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue. The company’s shares are proposed to be listed on the BSE and NSE.
Emami Cement is among the group's newest ventures and was started in June 2007. It makes cement under the ‘Double Bull’ brand.
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