Tata Sons-backed Tata Capital files updated draft papers with Sebi for IPO
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Business Standard
7 hours ago
- Business Standard
JSW Cement raises ₹1,080 crore from anchor investors ahead of IPO
JSW Cement, part of the diversified JSW Group, on Wednesday mobilised ₹1,080 crore from anchor investors, a day before its initial share-sale opening for public subscription. This anchor portion witnessed participation from domestic and foreign institutional investors including Nomura, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Investment Fund, Goldman Sachs (Singapore) Pte and Kuwait Investment Authority, according to a circular uploaded on BSE's website. Also, SBI Mutual Fund (MF), Nippon India MF, Tata MF, Aditya Birla Sun Life MF, Motilal Oswal MF and SBI Life Insurance Company are among investors. As per the circular, JSW Cement has allotted 7,34,69,386 equity shares to 52 funds at ₹147 apiece. This aggregates the transaction size to ₹1,080 crore. The company has set a price band of ₹139-147 per share, valuing the 17-year-old company at ₹20,000 crore at the upper end of the price band. The IPO, which includes a fresh issue of ₹1,600 crore of shares and ₹2,000 crore of shares to be sold by current shareholders through Offer for Sale, will be open between August 7-11. As part of the OFS, private equity giant Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, as well as Synergy Metals Investments Holding Ltd and State Bank of India (SBI) will offload shares. Synergy Metals Investments Holding is an arm of Synergy Metals and Mining Fund, a private equity fund set up by a former executive of steelmaker ArcelorMittal Sudhir Maheshwari in 2015. According to the draft papers, the company will utilise proceeds worth ₹800 crore to part-finance a new integrated cement unit at Nagaur, Rajasthan, and ₹ 520 crore for payment of debt and the remaining funds for general corporate purposes. As of March 31, 2025, JSW Cement's total borrowings stood at ₹6,166.6 crore. The Mumbai-based company had earlier planned to raise ₹4,000 crore. At the time of filing papers, JSW Cement said it intended to raise ₹2,000 crore from a fresh issue of equity shares and an OFS of ₹2,000 crore by investor shareholders. However, the size of the fresh capital-raising has been cut by ₹400 crore from the fresh issue. When asked about the reasons for scaling down the IPO size from ₹ 4,000 crore to ₹ 3,600 crore, Parth Jindal, the managing director of JSW Cement, had stated it is led by business requirements in current times and also to make future dilutions possible. At the time of announcing the IPO, the cement industry's condition was not as good, necessitating a higher sum of money, he had added. On the financial front, the company's revenue from operations for FY25 stood at ₹5,813.1 crore against ₹6,028.10 crore in FY24, and ₹5,836.72 crore in FY23. The company reported a loss of ₹163.77 crore in FY25. Its profit was ₹62 crore in FY24 and ₹104 crore in FY23. As of March 31, 2025, JSW Cement had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA).
News18
8 hours ago
- News18
Ahead of IPO, JSW Cement garners Rs 1,080 cr from anchor investors
Agency: PTI New Delhi, Aug 6 (PTI) JSW Cement, part of the diversified JSW Group, on Wednesday mobilised Rs 1,080 crore from anchor investors, a day before its initial share-sale opening for public subscription. This anchor portion witnessed participation from domestic and foreign institutional investors including Nomura, Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley Investment Fund, Goldman Sachs (Singapore) Pte and Kuwait Investment Authority, according to a circular uploaded on BSE's website. Also, SBI Mutual Fund (MF), Nippon India MF, Tata MF, Aditya Birla Sun Life MF, Motilal Oswal MF and SBI Life Insurance Company are among investors. As per the circular, JSW Cement has allotted 7,34,69,386 equity shares to 52 funds at Rs 147 apiece. This aggregates the transaction size to Rs 1,080 crore. The company has set a price band of Rs 139-147 per share, valuing the 17-year-old company at Rs 20,000 crore at the upper end of the price band. The IPO, which includes a fresh issue of Rs 1,600 crore of shares and Rs 2,000 crore of shares to be sold by current shareholders through Offer for Sale, will be open between August 7-11. As part of the OFS, private equity giant Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, as well as Synergy Metals Investments Holding Ltd and State Bank of India (SBI) will offload shares. Synergy Metals Investments Holding is an arm of Synergy Metals and Mining Fund, a private equity fund set up by a former executive of steelmaker ArcelorMittal Sudhir Maheshwari in 2015. According to the draft papers, the company will utilise proceeds worth Rs 800 crore to part-finance a new integrated cement unit at Nagaur, Rajasthan, and Rs 520 crore for payment of debt and the remaining funds for general corporate purposes. As of March 31, 2025, JSW Cement's total borrowings stood at Rs 6,166.6 crore. The Mumbai-based company had earlier planned to raise Rs 4,000 crore. At the time of filing papers, JSW Cement said it intended to raise Rs 2,000 crore from a fresh issue of equity shares and an OFS of Rs 2,000 crore by investor shareholders. However, the size of the fresh capital-raising has been cut by Rs 400 crore from the fresh issue. When asked about the reasons for scaling down the IPO size from Rs 4,000 crore to Rs 3,600 crore, Parth Jindal, the managing director of JSW Cement, had stated it is led by business requirements in current times and also to make future dilutions possible. At the time of announcing the IPO, the cement industry's condition was not as good, necessitating a higher sum of money, he had added. On the financial front, the company's revenue from operations for FY25 stood at Rs 5,813.1 crore against Rs 6,028.10 crore in FY24, and Rs 5,836.72 crore in FY23. The company reported a loss of Rs 163.77 crore in FY25. Its profit was Rs 62 crore in FY24 and Rs 104 crore in FY23. As of March 31, 2025, JSW Cement had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA). PTI SP HVA view comments First Published: August 06, 2025, 22:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
9 hours ago
- Mint
Gujarat Kidney, EPack Prefab and Anand Rathi gets Sebi nod for IPO
India's capital markets regulator, Sebi, has given the nod to Gujarat Kidney and Super Speciality, EPack Prefab Technologies, and Anand Rathi Share and Stock Brokers, clearing the way for these companies across diverse sectors to raise funds through public offerings. Gujarat Kidney and Super Speciality Limited had filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO). The IPO, with a face value of ₹ 2, is a fresh issue of shares up to 2.2 crore equity shares. Gujarat Kidney and Super Speciality is led by Promoter and Managing Director Dr. Pragnesh Yashwantsingh Bharpoda, an established name in the field of urology. The hospital categorizes its healthcare services as secondary services (that is, surgical services) and tertiary services (that is, super specialty surgical services). As of March 20, 2025, on a consolidated basis, it operates six multispecialty hospitals and three pharmacies operating within its hospitals. Noida-based EPack Prefab Technologies has filed its Draft Red Herring Prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds through an Initial Public Offering (IPO). The offering, with a face value of ₹ 2, consists of fresh issues of shares up to ₹ 300 crore and an offer-for-sale of up to 10 million equity shares by the Promoter Group and Selling Shareholders. Incorporated in 1999, EPack Prefab Technologies has a legacy spanning over 25 years and operates across two distinct business verticals: Pre-Fab Business and EPS Packaging Business. The company sells its products under the brand names 'EPACK PREFAB' for its prefab business and 'EPACK PACKAGING' for its EPS packaging business. It has received a Certificate of Excellence from the Golden Book of World Records for achieving the 'fastest erection of a pre-engineered factory building' at Mambattu, Andhra Pradesh. Anand Rathi Group's brokerage arm, Anand Rathi Share and Stock Brokers, has refiled its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) for its ₹ 745 crore Initial Public Offering (IPO). Previously, the company had filed its DRHP in the month of December 2024. The IPO with a face value of ₹ 5 is entirely a fresh issue of shares up to ₹ 745 crore. Anand Rathi Share and Stock Brokers Limited provides a wide range of financial services, including broking, margin trading, and distribution of financial products, under the brand name 'Anand Rathi.' Catering to a diverse clientele, the company serves retail investors, high-net-worth individuals (HNIs), ultra-HNIs, and institutional clients. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
