Kanodia Cement Ltd. IPO Details
Kanodia Cement was incorporated on August 3, 2009. The company is a cement manufacturer operating satellite grinding units in Uttar Pradesh and Bihar, producing blended cements like Portland Pozzolana and Composite Cement. It follows a dual model—contract manufacturing for other cement brands and selling its own brands such as Concrete Gold and BigCem through a retail network
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 14.9 M | - | - | ₹0 | DRHP DOC |
Kanodia Cement issue details
Kanodia Cement has 14.9 M shares on offer
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Kanodia Cement IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Kanodia Cement NUMBER OF SHARES ON OFFER
Kanodia Cement FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 9MFY25 | 98.2 | 719.6 | 59.3 | 14.3 | 18.1% |
| FY24 | 113.8 | 887.9 | 165.1 | 150.0 | 17.2% |
| FY23 | 55.5 | 665.3 | 70.4 | 31.4 | 13.8% |
| FY22 | 40.4 | 488.5 | 33.1 | -69.3 | 13.7% |
Kanodia Cement INFORMATION ON IPO ISSUE
About Kanodia Cement
Kanodia Cement was incorporated on August 3, 2009. The company is a cement manufacturer operating satellite grinding units in Uttar Pradesh and Bihar, producing blended cements like Portland Pozzolana and Composite Cement. It follows a dual model—contract manufacturing for other cement brands and selling its own brands such as Concrete Gold and BigCem through a retail network
Object of the Issue
- To achieve the benefits of listing the equity shares on the stock exchanges
- To carry out the offer for sale of up to 14,913,930 Equity Shares of face value of Rs 10 each
Kanodia Cement - PROMOTERS
| Name |
|---|
| Vishal Kanodia |
| Nupoor Kanodia Beneficiary Trust |
| Trish Kanodia Beneficiary Trust |
Kanodia Cement Book Running Lead Manager
Anand Rathi Advisors Limited
kcl.ipo@rathi.com
IIFL Capital Services Limited
kanodia.ipo@iiflcap.com
Oneview Corporate Advisors Private Limited
ipo.kanodia@oneviewadvisors.com
Kanodia Cement Registrar to the Offer
Mufg Intime India Private Limited
kanodiacement.ipo@in.mpms.mufg.com
Kanodia Cement Strengths
Strategic plant locations
The company’s strategically located Split Grinding Units (SGUs) offer proximity to high-demand regions like Uttar Pradesh, Bihar, and the National Capital Region. These regions are witnessing growing cement demand, with Uttar Pradesh and Bihar expected to grow at 7–9% CAGR till FY2029
Strong contract model
The company is among the pioneers of contract manufacturing in India’s cement sector, operating under this model since 2011. It manufactures blended cement at all SGUs, supplying to reputed cement brands based on long-term contracts lasting from 12 months to 8 years
Rapid capacity growth
Since its first SGU in 2011, the company has expanded to five SGUs with a total installed capacity of 3.54 MTPA as of December 31, 2024. This capacity has grown at a CAGR of 22.12% from FY2014 to FY2024, significantly above the industry and peer average
Kanodia Cement Risks
No long-term contracts
The company lacks long-term cement sale and purchase agreements with two customers under the Contract Manufacturing Model, including its largest customer, which is currently on a 12-month agreement at KCL Sikandrabad
Geographic concentration risk
The company's operations under both the Contract Manufacturing and Business-to-Consumer models are currently concentrated in Uttar Pradesh and Bihar. Any failure to expand to new regions or grow within existing markets may impact revenue and market share
Raw material dependency
The company’s cement production is highly dependent on the timely and sufficient procurement of key raw materials like clinker, fly ash, gypsum, and slag. A major portion of expenses relates to these materials. Since the company has no firm supply commitments or exclusive contracts any disruption, or delays—especially in clinker—could impair production, increase costs, and negatively impact business results
IPO FAQs
The promoters of the company are Vishal Kanodia, Nupoor Kanodia Beneficiary Trust and Trish Kanodia Beneficiary Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.