A cement company mobilized ?1,080 crore from anchor investors a day before its initial public offering (IPO) opened for public subscription. The anchor portion saw participation from both domestic and foreign institutional investors, including government-backed funds, investment authorities, and mutual funds.

The company allotted 7,34,69,386 equity shares to 52 funds at ?147 per share, aggregating the transaction size to ?1,080 crore. The IPO has a price band of ?139–147 per share, valuing the 17-year-old firm at ?20,000 crore at the upper end of the band.

The decision to scale down the IPO size from ?4,000 crore to ?3,600 crore was reportedly driven by current business requirements and to allow for possible future share dilutions. Market conditions at the time of announcement were less favorable, necessitating adjustments in the target fundraise.

Financially, the company’s revenue from operations for FY25 stood at ?5,813.1 crore, compared with ?6,028.1 crore in FY24 and ?5,836.72 crore in FY23. The company reported a loss of ?163.77 crore in FY25, while it had profits of ?62 crore in FY24 and ?104 crore in FY23.

As of March 31, 2025, the company had an installed grinding capacity of [capacity figure not provided].

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