Kanodia Cement files draft IPO papers with Sebi
NEW DELHI: Cement manufacturing company
Kanodia Cement
has filed preliminary papers with the markets regulator Sebi, seeking its approval to float an
Initial Public Offering
(IPO). The IPO is entirely an Offer For Sale (OFS) of 1.49 crore shares by promoters and an individual shareholder, with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Thursday.
Since the public issue is completely an OFS, the company will not receive any funds from the issue and entire proceeds will go to selling shareholders.
Kanodia Cement is a cement manufacturing company operating through
Satellite Grinding Units
(SGUs) in the states of Uttar Pradesh and Bihar, specialising in the production of blended cement such as Portland Pozzolana Cement and Composite Cement.
It operates through a unique combination of business-to-business contract manufacturing for cement brands (Contract Manufacturing Model); and production and marketing of its own consumer brands (Business-to-Consumer Model).
As on December 31, 2024, the company operate five satellite grinding units with an aggregate cement manufacturing capacity of 3.54 MTPA.
The company's installed cement grinding capacity grew at a CAGR of 22.12 per cent, compared to the industry average of 7.31 per cent and a peer average of 9.64 per cent, from fiscal 2014 to fiscal 2024, making it as one of the fastest growing cement manufacturers in India in terms of increase in installed cement grinding capacity during the period, according to a report by Crisil.
On the financial front, the company posted a profit of Rs 9.8 crore and a total income of Rs 732 crore for the nine months ended December 31, 2024.
Anand Rathi Advisors, IIFL Capital Services and Oneview Corporate Advisors are the book-running lead managers to the issue.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
35 minutes ago
- Time of India
Best large cap mutual funds to invest in June 2025
Many mutual fund advisors have been recommending to invest in large cap schemes in the current financial year. They believe that the large cap category may do well as the market is entering into the expensive territory. These advisors say that the stock market is at an all-time high and the market is likely to become volatile. So, if you are a conservative investor and are looking to invest in relatively safer equity mutual fund schemes to achieve your long-term goals, you should consider investing in large cap mutual funds . However, before that you should familiarise yourself with what are large cap mutual funds and the prevailing conditions in the stock market. According to the Sebi mandate, the large cap mutual funds are mandated to invest in top 100 companies by market capitalisation. Large companies fare better in a volatile market as these companies may be market leaders and resilient to downturns. That is why if you are looking for a relatively safer mutual fund category, you should consider investing in large cap funds. Also Read | NFO Insight: Nippon Income Plus Arbitrage Active FoF opens. Is it time to add this emerging category to your portfolio? Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A casa do Padre Fábio de Melo chocou o mundo inteiro Weight Loss Groove Undo Volatile times ahead Many equity investors are concerned about the increasing volatility and uncertainties in the market. A rising market, higher interest rates, and inflation are puzzling. The relative stability of the Indian economy and better fundamentals are supporting the market. However, one can't be completely safe from the global scenario. This is the reason why advisors are asking the investors to proceed cautiously. Many investors and mutual fund analysts believe that large cap schemes are losing their mojo lately. Ever since SEBI introduced the total return index in 2018 and stricter investment norms, the large cap schemes have been struggling to beat their benchmarks. However, writing off large cap schemes completely could be a mistake. It is true that new benchmarks and stricter investment norms have made life difficult for these schemes. However, the large cap schemes can still continue to offer inflation beating returns without too much volatility. Live Events Investing in other mutual fund categories for higher returns without paying attention to the extra risk could be a costly mistake for the investors. If you are happy with 10-12% returns offered by large cap mutual funds over a long period, you should invest in them. If you want to match the market returns, you may educate yourself about index schemes and invest in a large cap index scheme. If you are interested in investing in large cap mutual funds to take care of your long-term financial goals, here are our recommended large cap schemes for June 2025. You may invest in these schemes with a minimum investment horizon of five to seven years. Look out for our monthly updates where we keep discussing the performance of these schemes. We typically come up with our updates in the first or second week of every month. Also Read | Equity mutual funds offer up to 22% return in May. Check top 10 performers Best large cap mutual funds to invest in June 2025: Axis Bluechip Fund Canara Robeco Bluechip Equity Fund Mirae Asset Large Cap Fund Baroda BNP Paribas Large Cap Fund Edelweiss Large Cap Fund Here are the updates for this month. BNP Paribas Large Cap Fund has been in the second quartile in the last month. The scheme had been in the first quartile earlier. Axis Bluechip Fund has been in the fourth quartile for the last 14 months. Canara Robeco Bluechip Equity Fund has been in the second quartile in the last month. The scheme had been in the third quartile earlier. Mirae Asset Large Cap Fund has been in the fourth quartile for 19 months. Many investors have been asking about the poor performance of Axis Bluechip Fund for over a period of time, and whether they should continue to invest in the scheme. We believe equity mutual funds should be judged on their long-term performance. The scheme has outperformed its benchmark and category seven times in the last 10 years. That is a great record. Sure, the scheme has been underperforming its benchmark and category in the last three years. If you are worried, you may choose another large cap scheme. If you want to give it some more time, you can continue to invest in the scheme. Mutual fund analysts believe that schemes that have been pursuing the growth strategy have been faring poorly in the last few years as the value strategy has gained prominence in the market. Here is our methodology: ETMutualFunds has employed the following parameters for shortlisting the equity mutual fund schemes. 1. Mean rolling returns: Rolled daily for the last three years. 2. Consistency in the last three years: Hurst Exponent, H is used for computing the consistency of a fund. The H exponent is a measure of randomness of NAV series of a fund. Funds with high H tend to exhibit low volatility compared to funds with low H. i) When H = 0.5, the series of returns is said to be a geometric Brownian time series. This type of time series is difficult to forecast. ii) When H is less than 0.5, the series is said to be mean reverting. iii) When H is greater than 0.5, the series is said to be persistent. The larger the value of H, the stronger is the trend of the series 3. Downside risk: We have considered only the negative returns given by the mutual fund scheme for this measure. X =Returns below zero Y = Sum of all squares of X Z = Y/number of days taken for computing the ratio Downside risk = Square root of Z 4. Outperformance: It is measured by Jensen's Alpha for the last three years. Jensen's Alpha shows the risk-adjusted return generated by a mutual fund scheme relative to the expected market return predicted by the Capital Asset Pricing Model (CAPM). Higher Alpha indicates that the portfolio performance has outstripped the returns predicted by the market. Average returns generated by the MF Scheme = [Risk Free Rate + Beta of the MF Scheme * {(Average return of the index - Risk Free Rate} 5. Asset size: For Equity funds, the threshold asset size is Rs 50 crore
Economic Times
36 minutes ago
- Economic Times
Flipkart exits Aditya Birla Fashion and Retail in Rs 582 crore bulk deal
Flipkart is understood to have sold its entire 6% stake in ABFRL, the owner of Pantaloons, through a bulk deal worth Rs 582 crore on Wednesday. Synopsis Flipkart Investments Private Limited divested its 6% stake in Aditya Birla Fashion & Retail. The sale occurred in a bulk deal for Rs 582 crore. Following this, ABFRL's stock experienced a 9% drop. Goldman Sachs managed the transaction. Aditya Birla Fashion & Retail had recently demerged its Madura Fashion & Lifestyle business. Walmart-owned Flipkart on Wednesday is understood to have sold its entire 6% stake in Pantaloons owner Aditya Birla Fashion & Retail (ABFRL) in a Rs 582 crore bulk deal this morning. The Birla Group stock fell 9% to the day's low at Rs 78.30 on BSE following the exit. ADVERTISEMENT Flipkart Investments Private Limited had offered to sell its entire 73.17 million shares, amounting to 6% stake in ABFRL at a floor price of Rs 79.50 per share, which is at a 7.6% discount to the last closing share price, according to the term sheet. Goldman Sachs is the sole bookrunner in this deal. Market sources confirmed that the deal was closed this morning. The deal amount is likely to be around Rs 582 the last few weeks, the market rebound has been marked by paring of stakes by promoters, PE and other large investors. Also read | Rs 43,000 crore selloff by promoters! Insider exits flash warning sign for Nifty bulls ADVERTISEMENT Prime Database shows that in May alone, promoters and other large investors sold shares worth around Rs 43,400 shares have been underperforming and have fallen around 11% in the last one year. The company had recently demerged the Madura Fashion & Lifestyle business into a separate listed entity - Aditya Birla Lifestyle Brands Limited (ABLBL). ADVERTISEMENT ABLBL will house prominent brands such as Louis Philippe, Van Heusen, Allen Solly, Peter England, Reebok, and others, including casual wear lines like American Eagle and Forever 21, as well as the innerwear segment under Van part of the restructuring, Rs 1,000 crore of ABFRL's total borrowing of Rs 3,000 crore (as of March 31, 2024) will be transferred to ABLBL, while the remaining Rs 2,000 crore will stay with ABFRL. ADVERTISEMENT The company also plans to raise Rs 2,500 crore within 12 months of the demerger, with promoter participation. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
New Indian Express
36 minutes ago
- New Indian Express
Chennai cybercrime police bust two online job scams, arrest three men
CHENNAI: Chennai city police's cyber crime units have arrested three suspects in two online part-time job scams. The victims were initially told to share YouTube videos or give good review on Google, send a screenshot of the completed task to a dedicated group and claim a small sum of money. They were then lured into the investment scams promising higher returns. According to sources, the North Zone Cyber Crime unit arrested S Veeraraghavan (39), a resident of Thirunindravur, following a complaint from K Mohanapriya (27) of New Washermanpet. The woman allegedly lost over Rs 4.5 lakh after being lured into the scam. Encouraged by initial success, she had transferred Rs 4.5 lakh to the accused through a total of 49 transactions. When she was allegedly asked to pay more money to 'withdraw' her profits, she got suspicious and filed a police complaint. Police traced the beneficiary account and arrested Veeraraghavan. In another incident which was reported by the West Zone Cyber Crime unit, V Nagananthini (27) of Virugambakkam, lost Rs 3.61 lakh in a similar fashion. Based on her complaint, Chennai police arrested P Selvam (28) and S Saravanan (29), both of whom hail from Tiruvannamalai. All the three accused were produced before a magistrate and remanded to judicial custody.
