Kanodia Cement Set to Launch IPO, Seeks Rs 800 Crore; Plans to Expand Capacity
Kanodia Cement, a leading manufacturer in the cement and personal hygiene products sector, is gearing up to file its Draft Red Herring Prospectus (DRHP) with SEBI. The company aims to raise Rs 800 crore through its Initial Public Offering (IPO) to expand
Kanodia CementIpoDrhpExpansionReal EstateReal Estate NewsOct 24, 2024
Kanodia Cement currently has an annual production capacity of approximately 5 million tonnes. To meet the growing demand and expand its market share, the company is planning to increase its capacity to 10 million tonnes. Gautam Kanodia, the founder of Kanodia Cement, stated, 'We are expanding our cement capacity to 10 million tonnes to better serve our customers and capitalize on the growing construction market.'
The Kanodia Group, besides cement, also manufactures personal hygiene products and has recently diversified into real estate and media businesses. The company is looking to raise funds from institutional investors before filing the DRHP with SEBI. The appointment of merchant bankers for the IPO process has already been completed, and the company is optimistic about the regulatory approval.
In addition to its core cement business, Kanodia has ventured into the real estate sector under the brand KREEVA. Gautam Kanodia, the founder of KREEVA, expressed his vision for the luxury housing market, saying, 'The luxury housing market is constantly evolving, and we see immense potential in this segment.' Mayank Jain, CEO of KREEVA, shared the company’s ambitious plans to launch three ultra-luxury projects in the Delhi-NCR region by the end of 2025, targeting a total revenue of Rs 6,000 crore.
For its first project in Gurugram, KREEVA has partnered with Shapoorji Pallonji Real Estate to develop a 1.74-acre housing project. This project is expected to generate an estimated revenue of over Rs 1,200 crore. The partnership underscores KREEVA's commitment to delivering high-quality, luxury real estate solutions in one of the most dynamic markets in India.
Kanodia Cement's IPO and expansion plans are expected to significantly boost its market position and drive growth in the construction and real estate sectors. The company's forward-looking strategies and diversified portfolio position it well to meet the challenges and opportunities of the Indian market.
Frequently Asked Questions
What is Kanodia Cement's planned IPO amount?
Kanodia Cement plans to raise around Rs 800 crore through its Initial Public Offering (IPO).
When is Kanodia Cement expected to file its DRHP with SEBI?
Kanodia Cement is expected to file its Draft Red Herring Prospectus (DRHP) with SEBI in the next two months, likely in November or early December.
What is the current annual production capacity of Kanodia Cement?
Kanodia Cement currently has an annual production capacity of approximately 5 million tonnes.
What are the expansion plans of Kanodia Cement?
Kanodia Cement plans to expand its cement capacity to 10 million tonnes to better serve the growing construction market.
What is KREEVA's target revenue from its three ultra-luxury projects by 2025?
KREEVA is targeting a total revenue of Rs 6,000 crore from its three ultra-luxury projects in the Delhi-NCR region by the end of 2025.
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