Penna Cement seeks nod for $213m Indian IPO

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By Jonathan Breen
06 Nov 2018

India’s Penna Cement Industries is preparing a listing that could raise up to Rp15.5bn ($212.6m) and has filed a draft prospectus with the country’s securities regulator.

The cement maker is planning to sell Rp13bn in primary shares and Rp2.5bn in secondary shares offered by PR Cement Holdings.

Penna brought on Edelweiss Financial Services as left lead for the IPO and lined up IIFL Holdings, JM Financial and Yes Securities as bookrunners. 

The issuer, founded in 1991, ...

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