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JSW Cement, the cement arm of Sajjan Jindal-led JSW Group, is set to launch its Rs 3,600-crore initial public offering (IPO) on August 7. The public issue, as per the latest Red Herring Prospectus (RHP), will close on August 11, with anchor investors bidding a day earlier on August 6. This IPO size is lower than the earlier proposed Rs 4,000 crore.
JSW Cement IPO Price Band Fixed: Opening Date, GMP, Lot Size; Everything You Need To Know
JSW Cement, the cement arm of Sajjan Jindal-led JSW Group, is set to launch its Rs 3,600-crore initial public offering (IPO) on August 7. The public issue, as per the latest Red Herring Prospectus (RHP), will close on August 11, with anchor investors bidding a day earlier on August 6. This IPO size is lower than the earlier proposed Rs 4,000 crore.
JSW Cement IPO Size
The offering comprises a fresh issue of equity shares worth Rs 1,600 crore and an Offer for Sale (OFS) component of up to Rs 2,000 crore by existing shareholders. Under the OFS, Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, will offload shares worth Rs 931.8 crore. Synergy Metals Investments Holding Ltd, a fund promoted by former ArcelorMittal executive Sudhir Maheshwari, will divest shares worth Rs 938.5 crore, while the State Bank of India will sell shares valued at Rs 129.7 crore.
JSW Cement IPO Price And Lot Size
The price band of the IPO has been fixed in the range of Rs 139-147 per share.
For investors, the minimum lot size for the IPO is 102. It means investors will have to apply for a minimum of 102 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,994 at the upper price band to apply for the IPO.
JSW Cement IPO GMP Today
The GMP or grey market premium (GMP) for JSW Cement is currently zero, indicating flat or negative return for IPO investors.
Use of Proceeds
Out of the fresh capital raised, JSW Cement plans to utilise Rs 800 crore to part-finance a new integrated cement unit at Nagaur in Rajasthan. Another Rs 520 crore will be used to prepay or repay existing borrowings, while the remaining funds will be allocated for general corporate purposes.
Financial Performance
As of March 31, 2025, the company reported total borrowings of Rs 6,166.6 crore. Revenue from operations in FY25 stood at Rs 5,813.1 crore, slightly down from Rs 6,028.1 crore in FY24 and Rs 5,836.72 crore in FY23. The company posted a loss of Rs 163.77 crore in FY25, in contrast to a profit of Rs 62 crore in FY24 and Rs 104 crore in FY23.
Manufacturing Capacity and Operations
JSW Cement had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) as of the end of FY25. The company's manufacturing units are located in Vijayanagar (Karnataka), Nandyal (Andhra Pradesh), Salboni (West Bengal), Jajpur (Odisha), and Dolvi (Maharashtra). Through its subsidiary Shiva Cement, the company also operates a clinker unit in Odisha.
Market Position
According to a report by CRISIL, JSW Cement is India's largest manufacturer of ground granulated blast furnace slag (GGBS), a sustainable cement substitute made from steel plant by-products. The company held an 84 percent market share in terms of GGBS sales during FY25.
IPO Managers and Listing
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The IPO is being managed by a consortium of leading investment banks including JM Financial, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company, and SBI Capital Markets.
Post-issue, the shares will be listed on both the BSE and NSE.
Source: News18
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