Kanodia Cement's Ambitious IPO and Real Estate Expansion Plans

Kanodia Cement is planning an initial public offering to raise Rs 800 crore, eyeing an expansion to 10 million tonnes cement capacity. It aims to enter real estate through its KREEVA branch, launching luxury projects in Delhi-NCR, with an expected revenue of Rs 6,000 crore.

Kanodia Cement is poised to make a significant financial maneuver by launching an initial public offering (IPO) to raise approximately Rs 800 crore. This ambitious move comes as the company, which already boasts a production capacity of around 5 million tonnes, is eager to almost double its capacity.

The cement manufacturer, part of the broader Kanodia Group that also deals in personal hygiene products and has recently ventured into real estate and media, plans to file its draft red herring prospectus with SEBI within two months. The expansion strategy doesn't stop there; the Group is actively engaging institutional investors before listing the cement business on stock exchanges.

Kanodia's real estate arm, KREEVA, is equally ambitious. With three ultra-luxury projects slated for launch by the end of 2025 in the Delhi-NCR area, the arm aims for a revenue target of Rs 6,000 crore. Collaborative partnerships like the one with Shapoorji Pallonji Real Estate for a Gurugram project mark KREEVA's trajectory in the high-stakes luxury housing market.

(With inputs from agencies.)