Latest news with #KanodiaCement
Time of India
23-05-2025
- Business
- Time of India
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.
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Business Standard
23-05-2025
- Business
- Business Standard
Kanodia Cement files papers with Sebi seeking approval to float IPO
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. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Mint
23-05-2025
- Business
- Mint
Kanodia Cement files DRHP with Sebi for IPO; entirely offer for sale
Kanodia Cement Limited, one of India's fastest-growing cement manufacturers, has taken a significant step towards entering the public markets. The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed Initial Public Offering (IPO). According to the regulatory filing dated May 23, 2025, the issue will consist entirely of an Offer For Sale (OFS) of 1.49 crore equity shares, with no fresh issue component, meaning the company itself will not receive any proceeds from the offering. As per the DRHP, the IPO will allow existing shareholders—including promoters and promoter group entities—to offload part of their holdings. The selling shareholders include the Nupoor Kanodia Beneficiary Trust, a promoter entity, offering 81.91 lakh shares; Gautam Kanodia, part of the promoter group, offering 44.77 lakh shares; Swati Kanodia, an individual shareholder, selling 22.42 lakh shares; and Gautam Kanodia HUF, selling 2,730 shares. Since this is a pure OFS, all proceeds from the IPO will go directly to the selling shareholders. The total offer size in monetary terms will be disclosed once the price band is finalised closer to the IPO date. Anand Rathi Advisors, IIFL Capital Services, and Oneview Corporate Advisors have been appointed as the book-running lead managers to the issue. The equity shares are proposed to be listed on both the BSE and the NSE, subject to necessary approvals. Founded in 2009, Kanodia Cement is a cement manufacturing company that operates through a network of Satellite Grinding Units (SGUs) strategically located in Uttar Pradesh and Bihar. The company specialises in producing blended cement varieties such as Portland Pozzolana Cement (PPC) and Composite Cement (CC), catering to both business-to-business (B2B) and business-to-consumer (B2C) segments. Kanodia Cement's business model uniquely combines contract manufacturing for other cement brands and in-house brand development. As of December 31, 2024, the company operates five SGUs with a total cement manufacturing capacity of 3.54 million tonnes per annum (MTPA). According to a report by Crisil, the company's cement grinding capacity has grown at a compound annual growth rate (CAGR) of 22.12 percent between FY2014 and FY2024—significantly outpacing the industry average of 7.31 percent and the peer average of 9.64 percent—positioning Kanodia Cement as one of the fastest-growing players in India's cement sector. On the financial front, Kanodia Cement reported a net profit of ₹ 9.8 crore and a total income of ₹ 732 crore for the nine months ended December 31, 2024. The numbers reflect stable operational performance and underscore the company's readiness for market listing. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
