Emami Cement gets Sebi nod for IPO
ECL has an installed manufacturing capacity of 5.60 million tonnes per annum (mmtpa). It currently operates three manufacturing plants and is in the process of setting up another plant, which, subject to receipt of necessary approvals, is expected to result in an aggregate installed capacity of 9.30 mmtpa of cement and 3.2 mmtpa of clinker.
The proposed IPO comprises equity shares of face value of Rs 10 each of Emami Cement aggregating up to Rs 1,000 crore, including a fresh issue aggregating up to Rs 500 crore and an offer for sale up to Rs 500 crore.
The company proposes to utilize the net proceeds raised through the fresh issue for repayment and prepayment of certain debts mounting to about Rs 400 crore.