Latest news with #JSWCement
News18
5 days ago
- Business
- News18
JSW Cement Cuts IPO Size To $415 Million; Set To Launch In Early August
JSW Cement, led by Parth Jindal and a part of the diversified JSW Group, is planning to reduce the size of its upcoming IPO JSW Cement, led by Parth Jindal and a part of the diversified JSW Group, is planning to reduce the size of its upcoming initial public offering (IPO) from $462 million (Rs 4,000 crore) to $415 million (Rs 3,600 crore), according to a report by Moneycontrol, which cited multiple industry sources familiar with the matter. The revised structure involves cutting the primary issue size from Rs 2,000 crore to Rs 1,600 crore, while keeping the offer-for-sale (OFS) component steady at Rs 2,000 crore. One of the sources told Moneycontrol that the updated draft red herring prospectus (UDRHP) has already been filed with the market regulator, and the company is aiming to launch the IPO in early August, possibly in the week of August 4. Another source added that JSW Cement is targeting a valuation of around $2.3 billion (Rs 20,000 crore) for the offering. If launched, this would mark the first IPO from a large Indian cement player since Nuvoco Vistas' Rs 5,000 crore listing in August 2021, which was backed by the Nirma Group. It also comes less than a year after JSW Infrastructure's public listing in October 2023—the first IPO from the JSW Group in 13 years. JSW Cement's IPO plans arrive at a time of heightened consolidation and competitive intensity in India's cement sector, which has seen a series of mergers and acquisitions involving top players like UltraTech Cement (Aditya Birla Group) and the ACC-Ambuja combine (Adani Group). JSW Cement had earlier acquired Shiva Cement in 2017, which now acts as a clinker supplier—a key ingredient in cement manufacturing—for the parent company. The IPO is being managed by a consortium of investment banks including JM Financial, Kotak Mahindra Capital, Jefferies, Axis Capital, Citi, Goldman Sachs, DAM Capital, and SBI Capital Markets. Khaitan & Co is acting as the company's legal counsel. JSW Cement's Expansion Plans JSW Cement focuses on manufacturing green cementitious products such as portland slag cement, portland composite cement, and ground granulated blast furnace slag. The company also produces ordinary portland cement and a range of allied products including ready-mix concrete, construction chemicals, waterproofing compounds, and screened slag. As of March 2024, the company had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) and clinker capacity of 6.44 MMTPA. According to the DRHP, proceeds from the fresh issue will be utilised for setting up a new integrated cement plant in Nagaur, Rajasthan, repaying debt, and general corporate purposes. Founded in 2009 in southern India, JSW Cement currently operates seven plants across the country. The company aims to more than double its grinding capacity to 40.85 MMTPA and clinker capacity to 13.04 MMTPA in the coming years. Its long-term target is to reach a total cement production capacity of 60 MMTPA. view comments 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
19-07-2025
- Business
- Mint
JSW Cement to Hit Markets in August with ₹4,000cr IPO at ₹20,000cr valuation
MUMBAI : After finishing a slew of meetings with institutional investors in road shows, JSW Cement has finalized plans to launch its ₹4,000-crore initial public offering (IPO) in the first week of August, two people with knowledge of the development said. The company will file an updated red herring prospectus (RHP) with the market regulator by this month-end, the people added on the condition of anonymity. It had filed a draft RHP (DRHP) last August. 'The company's cement capacity stands at more than 20 million tonnes, and based on feedback from investors and bankers, it is likely to target a valuation of around ₹18,000-20,000 crore," one of the persons cited above said. Domestic and global investment banks such as JM Financial, Axis Capital, Jefferies India, Citigroup Global Markets India, DAM Capital, Goldman Sachs India, Kotak Mahindra Capital Company, and SBI Caps have been mandated to help the company with the IPO raise. As per the DRHP filed in August with market regulator Sebi (Securities and Exchange Board of India), JSW Cement's IPO will see a combination of fresh issue and offer for sale or OFS. Half of the ₹4,000-crore target will be through issue of fresh shares. Another ₹2,000 crore is planned through the OFS component, in which existing investors AP Asia Opportunistic Holding, Synergy Metals, and SBI are likely to participate. AP Asia Opportunistic Holdings Pte. Ltd and Synergy Metals Investments Holding Ltd are set to sell shares worth ₹937.5 crore each, while State Bank of India (SBI) plans to divest shares valued at ₹125 crore. Emailed queries to JSW Cement did not elicit any response till press time. The company has stated that it will use the fresh proceeds to fund a new integrated cement unit in Nagaur, Rajasthan, repay select borrowings, and also for general corporate purposes. Having started operations in 2009, JSW Cement is India's fastest-growing cement company by capacity addition. With 20 million tonnes (MT) of capacity, it currently ranks among the top 10 cement manufacturers in the country in terms of installed capacity. Its existing facilities are located in Vijayanagar (Karnataka), Nandyal (Andhra Pradesh), Salboni (West Bengal), Jajpur (Odisha), and Dolvi (Maharashtra). Additionally, it operates a clinker unit in Odisha through its subsidiary Shiva Cement. JSW Cement is part of the Sajjan Jindal-promoted JSW Group, which has businesses ranging from steel, energy, infrastructure, defence to automotive, e-commerce, realty, paints and sports. JSW Cement's consolidated revenues stood at ₹6,114.59 crore as on 31 March 2024, up from ₹5,982.20 crore in FY23, according to data from its DRHP. However, its profit after tax fell to ₹62 crore from ₹104.03 crore over the same period. The Indian cement market is the second-largest globally and is experiencing significant growth, driven by infrastructure development and urbanization. The market is projected to reach 5.99 billion tonnes by FY32, exhibiting a CAGR (compounded annual growth rate) of 4.7% during FY24-FY32, according to Indian Brand Equity Foundation or IBEF. Key players include UltraTech Cement, Ambuja Cements, ACC, and JSW Cement, among others.
India Today
01-07-2025
- Business
- India Today
July turns hot for IPOs as firms race to raise $2.4 billion
The primary market is ready for yet another month of action in the primary market as firms are gearing up to raise around $2.4 billion through initial public offerings (IPOs) in this target is reached, it will mark the strongest IPO month since December 2023, following a solid $2 billion raised in June, most of which came from HDB Financial renewed activity comes after a slow start to the year due to the impact of the U.S. trade war and rising geopolitical tensions in regions like the Middle East. However, with stock markets recovering and investor sentiment improving, companies are once again turning to the primary market to raise the firms expected to go public this month are Credila Financial Services, National Securities Depository Ltd (NSDL), Aditya Infotech, and M&B four companies are currently conducting roadshows, according to investment bankers, reported Reuters. The companies themselves have not publicly confirmed their IPO timelines or details. India had a record-breaking year for IPOs in 2024, raising $20.5 billion and ranking second globally after the United States. This performance was driven by strong inflows from domestic investors who gained from the country's rapid economic growth. This year, the momentum was expected to continue, but events such as U.S. President Donald Trump's trade policies and rising tensions in South Asia delayed several such delayed IPO was that of LG Electronics' India arm, which had planned a $1.8 billion listing. Other firms also held back on launching their public issues due to uncertainty in the things are now looking more positive. Benchmark indices like the Nifty 50 and Sensex have recovered and are trading just about 3% below their peak levels. This recovery has brought confidence back into the IPO market."The IPO market has come back.... The absence of most of the negatives is driving the market more than anything else," Suraj Krishnaswamy, Managing Director of Investment Banking at Axis Capital, told Reuters. So far this year, India remains the world's second-largest IPO market, raising $5.86 billion. This accounts for 12% of all IPO proceeds globally, according to LSEG data.A STRONG LINE-UP AHEADAmong the IPOs expected in July, Credila's offering is set to be the largest at $584 million. NSDL is also planning to raise about $400 million. Though NSDL received approval to list as early as September 2023, its plans were delayed due to concerns about slowing economic and corporate growth. Bankers now say that both firms could soon announce final dates and ahead, LG Electronics India is expected to go ahead with its $1.8 billion IPO, while JSW Cement and defence equipment maker SMPP are also planning to raise close to $470 million each. JSW Cement's IPO could arrive as early as late July or early August, while the timeline for the other two remains to data from PRIME Database, there are 143 IPOs in the pipeline from Indian companies, with a total estimated value of $26 billion. Of these, 73 have already received approval from the Shah, Managing Director and Head of Investment Banking at Equirus, told Reuters, 'We expect the upcoming months to be the best for Indian IPO market as compared to what we have seen so far this year.'However, some market watchers are taking a more cautious view. Umesh Agrawal, a fund manager at 360 ONE Asset, said that investor behaviour has changed."Investors have become far more selective and are now much more mindful about where they see higher potential for returns," he said.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends advertisement
Mint
27-06-2025
- Business
- Mint
IPO Tsunami Incoming! NSDL, JSW Cement, Hero Fincorp among 74 companies with SEBI nod to float public offers
Upcoming IPOs: The primary market is abuzz with 12 initial public offers (IPOs) underway on Dalal Street, signalling a revival after a subdued trend in the initial few months of 2025. It was only in May that the IPO market saw any decent activity, following the launch of the much-awaited Ather Energy IPO towards the end of April. Since then, some 15 mainboard IPOs have already hit the primary market, with another two set to open in the first week of July. The revival in the IPO market coincided with the strength returning to Indian stock market bulls, amid improving macro trends, strong retail and strong institutional participation. A good monsoon and RBI's rate cut action are also supportive of the market and liquidity, driving the buoyant IPO market trend in 2025. This setup is creating room for more companies to hit the market with a IPO pipeline robust. According to Prime Database, some 74 companies are sitting on SEBI approval to float their IPOs, suggesting a steady influx of public issues in the year ahead. "Rate cuts, a stabilising rupee, falling crude prices, and the return of global liquidity have created fertile ground for capital raising. Promoters — especially in consumer, manufacturing, defence, and speciality sectors — are seizing this window of optimism to monetise value at fair valuations," Harshal Dasani, Research Analyst at Invasset PMS, said. It's also a matter of catching the cycle right — 2024's uncertainty had deferred many listings, and now that markets have absorbed geopolitical noise and macro shocks, pent-up IPO supply is finally flowing through, Dasani added. High-profile names like NSDL, Hero Fincorp, JSW Cement, LG Electronics, Kent RO Systems, Bluestone Jewellery and Vikram Solar, among others, are lining up to make the most of the market sentiment, suggests data. LG Electronics' proposed ₹ 15,000 crore IPO, if floated, could be the biggest listing of 2025. According to a Bloomberg report, the company has revived IPO plans after indicating its intent to put the public offer on hold amid unfavourable market conditions. NSDL IPO is another such awaited public offer. While the IPO is entirely an offer for sale of ₹ 3,400 crore by IDBI Bank, NSE, SBI, HDFC Bank and Union Bank of India. NSDL offers a wide range of products and services to the financial and securities market. The company is the largest depository in India in terms of the number of issuers, number of active instruments, market share in demat value of settlement volume, and value of assets held under custody. Hero Fincorp ( ₹ 3668 crore), Vikram Solar ( ₹ 7000 crore), JSW Cement ( ₹ 4000 crore), Dorf-Ketal Chemicals ( ₹ 5000 crore) and Avanse Financial ( ₹ 3,000 crore) are some of the biggest IPOs lined up to hit the primary market. According to Dasani, the success of recent listings, particularly the marquee ones in financial services and exchanges, has further reinforced confidence among issuers and investors alike. "Importantly, we're seeing quality businesses come to the market—many with strong profitability, niche positioning, or structural tailwinds. Valuation discipline remains important, but the current wave feels more broad‑based and less frothy than the 2021 cycle," he opined. Commenting on the outlook for the IPO market, Mahesh Ojha, AVP Research and Business Development, at Hensex Securities, said the IPO market can remain abuzz and continue till January 2026. Any concerns on the valuation front could act as a deterrent for the IPO investors. Echoing a similar view, Dasani said that if market sentiment and liquidity remain intact, and volatility remains within range, the IPO engine could well sustain into early 2026. "From an investor perspective, selectivity will be key, but India's capital market deepening story seems to be entering a very healthy phase," he added. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies,... More
Bloomberg
12-06-2025
- Business
- Bloomberg
JSW Cement Is Said to Eye Mumbai IPO in July as Roadshow Begins
JSW Cement Ltd. has kicked off a roadshow for its planned initial public offering that could take place in Mumbai as soon as next month, according to people familiar with the matter. JSW Cement top executives including Parth Jindal are meeting institutional investors to gauge demand and valuation, the people said, asking not to be identified because the information is private. The company may seek to raise as much as 40 billion rupees ($468 million), two of the people said.
