JSW Cement postpones IPO for two years, plans to list in December 2022
A top JSW Cement official said that due to the Covid-19 pandemic and the recession, the company has put forward its initial public offering (IPO) for two years and is now expected to come around December 2022. The company has set an ambitious target of increasing its total cement production capacity to 25 million tonnes by 2023 and an investment of Rs. 3623 crore will be made for this.
JSW Cement Managing Director Partha Jindal announced the expansion of Shiva Cement in Odisha through video conference, saying that there was a decline in the cement sector in 2019, Covid is killed in 2020. Now December 2022 is the logical deadline for us to launch an IPO.
MPEDA appeals to states to reform the Marine Fisheries Act
The Maritime Export Development Authority (MPEDA) has appealed to state governments for the necessary reforms in the Maritime Fisheries Act to pave the way for the US to lift the ban imposed two years ago. The US imposed this ban to make India more accountable for turtle conservation.
This ban imposed by the US affected 15 percent of the total shrimp exports from India. Law and order and fishing regulations in India come under the jurisdiction of the states and controlled by local governments.
A senior MPEDA official said that the progress of negotiations to lift the ban is quite good and now state governments need to take strict action against those who break the rules made for turtle protection. He said that in this regard America wants India to make more strict laws.
