Penna Cement Industries
Building Materials · India · 501-1,000 Employees
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Overview
Headquarters
plot no. 705 8-2-268/a/1/5/1 Rd No. 3 Ba...Phone Number
+91 4044565100Website
www.pennacement.comRevenue
$257.4 MillionIndustry
About Penna Cement Industries
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Penna Cement Industries News & Media
Ambuja Cements Completes Acquisition of Penna Cement Industries - Machine Maker
Ambuja Cements, a subsidiary of the Adani Group, announced on Friday that it has successfully completed the acquisition of Hyderabad-based Penna Cement Industries Limited. The acquisition was finalized through a binding agreement, making Penna Cement a wholly-owned subsidiary of Ambuja Cements, effective August 16. In a regulatory filing, Ambuja Cements revealed that its Board ofPenna buy to cut logistics costs for Adani Cements: CFO Vinod Bahety
Adani Cements uses the sea route for some transportation at Sanghi Industries and Ambuja Cements. "The plan for sea logistics will mature now, after this acquisition. You will see a much more impactful progression on sea logistics in 6-12 months time," said Vinod Bahety.Ambuja Cements to acquire 100% stake in Penna Cement for Rs 10422 crore
The acquisition will be fully funded through internal accruals, the filing said. The move is expected to boost Ambuja Cements' growth, said Ajay Kapur, CEO & Whole Time Director. The consolidated turnover of PCIL for the last three years i.e. FY2023-24, FY2022-23 and FY2021-22 is Rs 1241 crore, Rs 2002 crore and Rs 3204 crore, respectively.Penna Cement files Rs 1550-crore IPO papers with Sebi
The initial public offer (IPO) comprises a fresh issue of equity shares worth Rs 1,300 crore and an offer for sale of up to Rs 250 crore by the promoter, according to the draft red herring prospectus.Get latest Companies online at cnbctv18.com
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Frequently Asked Questions Regarding Penna Cement Industries
Penna Cement is one of the largest privately held cement companies in India, with an installed cement capacity of 7 Million Tonnes Per Annum. Founded in 1991, Penna Cement has established itself as one of the most trusted cement brands, with significant footprints in southern and western India. The company's clientele ranges from small house owners... Read More