JSW Cement IPO: Price band set at ₹139-147 per share; check key dates, issue details, more
JSW Cement IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, JSW Cement IPO basis of allotment of shares will be finalised on Tuesday, August 12 and the company will initiate refunds on Wednesday, August 13 while the shares will be credited to the demat account of allottees on the same day following refund. JSW Cement share price is likely to be listed on BSE and NSE on Thursday, August 14.
The initial public offering includes a new issuance of equity shares valued at ₹ 1,600 crore alongside an Offer for Sale (OFS) of shares amounting to ₹ 2,000 crore from investor shareholders.
Within the OFS, Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, will sell shares worth ₹ 931.80 crore, while Synergy Metals Investments Holding Ltd will offer shares valued at ₹ 938.50 crore, and the State Bank of India (SBI) will divest shares totaling ₹ 129.70 crore.
Synergy Metals Investments Holding is a subsidiary of Synergy Metals and Mining Fund, a private equity fund established in 2015 by Sudhir Maheshwari, a former executive at steelmaker ArcelorMittal.
According to the draft documents, the company plans to allocate ₹ 800 crore to partly fund a new integrated cement facility in Nagaur, Rajasthan, and ₹ 520 crore for the repayment or prepayment of its existing borrowings. The remaining funds will be designated for general corporate expenditures.
The company based in Mumbai had previously aimed to raise ₹ 4,000 crore. When the papers were submitted, JSW Cement expressed an intention to garner ₹ 2,000 crore through a fresh issuance of equity shares and an OFS amounting to ₹ 2,000 crore from investor shareholders.
Nonetheless, the amount for the new capital-raising has been reduced by ₹ 400 crore from the fresh issuance, as indicated in the latest Red Herring Prospectus (RHP).
JSW Cement Limited is a producer of eco-friendly cement in India. Being a part of the JSW Group, the company emphasizes sustainability and innovation within the cement sector.
The company has seven plants throughout the nation, which include one integrated unit, one clinker unit, and five grinding units situated in various locations: Andhra Pradesh (Nandyal plant), Karnataka (Vijayanagar plant), Tamil Nadu (Salem plant), Maharashtra (Dolvi plant), West Bengal (Salboni plant), and Odisha (Jajpur plant along with the majority-owned Shiva Cement Limited clinker unit).
As of March 31, 2025, JSW Cement Limited boasted an installed grinding capacity of 20.60 MMTPA, with 11.00 MMTPA in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region of India.
As per the red herring prospectus (RHP), the company's listed peers are UltraTech Cement Ltd (with a P/E of 59.56), Ambuja Cements Ltd (with a P/E of 35.97), Shree Cement Ltd (with a P/E of 97.77), Dalmia Bharat Ltd (with a P/E of 60.39), JK Cement Ltd (with a P/E of 58.39), The Ramco Cements Ltd (with a P/E of 103.50), and India Cements Ltd (with a P/E of 2.38).
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Read more: No FASTag, no bank, no fluff: How Paytm cut its way to a profit The company is making plants closer to their own limestone mines and near ports to make logistics cheaper. 'We leverage the group synergy when it comes to distribution of our products," said Jindal. 'Cement and TMT rods are sold at the same counters. JSW Steel is the largest TMT producer in the country, and hence, this gives us a very good headstart whenever we enter any new geographies." Jindal claimed that JSW Cement would spend at least 40% less than the company's peers to add every tonne of new cement capacity. This was because of the company's product mix. Group synergy The company uses slag secured from JSW Steel to make Ground Granulated Blast Furnace Slag (GGBS), a substitute for cement that is not only cheaper, but also more suitable for infrastructure projects. 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