Penna Cement Industries Limited’s Initial Public Offering

Penna Cement Industries Limited completed an initial public offering of equity shares, aggregating up to INR 15,500 million comprising a fresh issue of equity shares aggregating up to INR 13,000 million and an offer for sale of equity shares aggregating up to INR 2,500 million by the promoter, P R Cement Holdiings Limited. 

Penna Cement Industries Limited is one of the largest privately held cement companies in India and a leading integrated cement player in terms of cement production capacity with a strong brand recall in the southern and western states of India.

The Khaitan & Co. team consisted of Executive Director Sudhir Bassi (Picture), Aditya Cheriyan (Partner), Chirayu Chandani (Counsel), Drishti Barar (Associate) and Ritika Khare (Associate).

Involved fees earner: Sudhir Bassi – Khaitan & Co.; Chirayu Chandani – Khaitan & Co.; Aditya Cheriyan – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Penna Cement Industries ;

Author: Sonia Carcano