Latest news with #JSWCementLtd
Time of India
2 days ago
- Business
- Time of India
JSW Cement IPO booked 56% on day 2 of offer
NEW DELHI: The initial public offer of JSW Cement Ltd got subscribed 56 per cent on the second day of bidding on Friday. The initial share sale received bids for 10,19,35,638 shares against 18,12,94,964 shares on offer, according to NSE data. Retail Individual Investors (RIIs) part fetched 72 per cent subscription, while the category for non-institutional investors got subscribed 62 per cent. Qualified Institutional Buyers (QIBs) part received 24 per cent subscription. JSW Cement on Wednesday mobilised Rs 1,080 crore from anchor investors. 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 (OFS), will conclude on August 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. JM Financial Ltd, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company and SBI Capital Markets are the book-running lead managers to the offer.
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Business Standard
3 days ago
- Business
- Business Standard
JSW Cement public offer booked 56%; Varmora Granito files DRHP with Sebi
The initial public offering (IPO) of JSW Cement Ltd got subscribed 56 per cent on the second day of bidding on Friday. The IPO received bids for 10,19,35,638 shares against 18,12,94,964 shares on offer, according to NSE data. Retail Individual Investors part fetched 72 per cent subscription, while the category for non-institutional investors got subscribed 62 per cent. Varmora Granito files DRHP with market regulator Tiles and bathware maker Varmora Granito Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) seeking its go-ahead to mobilise funds through an initial public offering (IPO). The proposed IPO is a combination of fresh issue of shares worth ₹400 crore and offer for sale (OFS) of 5.24 crore equity shares, according to the draft red herring prospectus (DRHP) filed on Thursday. Those selling shares under the OFS are promoters —Parsotambhai Jivrajbhai Patel, Ramanbhai Jivrajbhai Varmora, and Vallabhbhai Jivrajbhai Varmora and Katsura Investments. Silver Consumer Electricals Ltd (SCEL) has filed preliminary papers with the Securities and Exchange Board of India (Sebi), seeking its approval to raise ₹1,400 crore through an initial public offering (IPO) comprising a fresh issue of shares worth ₹1,000 crore and an offer for sale valued at ₹400 crore. The initial public offering (IPO) of consumerware products maker All Time Plastics got fully subscribed on Thursday, the day two of bidding. The company's IPO got bids for 10,780,074 shares against 10,546,297 shares on offer, translating into 1.02 times subscription, according to data. Retail individual investors quota garnered 1.44 times subscription.
Time of India
3 days ago
- Business
- Time of India
JSW Cement IPO subscribed 29% on day 1 of offer
NEW DELHI: The initial public offer of JSW Cement Ltd, part of the diversified JSW Group , received 29 per cent subscription on the first day of bidding on Thursday. The initial share sale got bids for 5,21,07,720 shares against 18,12,94,964 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 36 per cent subscription while the quota for Qualified Institutional Buyers (QIBs) attracted 23 per cent subscription. The portion for non-institutional investors got covered 20 per cent. JSW Cement on Wednesday mobilised Rs 1,080 crore from anchor investors. 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 (OFS), will conclude on August 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. JM Financial Ltd, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company and SBI Capital Markets are the book-running lead managers to the offer.
Time of India
3 days ago
- Business
- Time of India
JSW Cement to triple capacity to 60 million tonnes a year
NEW DELHI: JSW Cement, whose Rs 3,600-crore IPO has opened for public subscription on Thursday, plans to triple manufacturing capacity to 60 million tonnes per annum in the coming years, and the USD 23-billion JSW group firm may tap capital markets to fund its growth, said Managing Director Parth Jindal on Thursday. JSW Cement plans to grow its capacity organically. However, it may keep looking for acquisition opportunities. The initial public offering (IPO) of JSW Cement Ltd received 29 per cent subscription on the first day of bidding on Thursday. The issue will conclude on August 11. The company, which has put a price band of Rs 139-Rs 147 apiece for its IPO, expects to become among top-five players, helped by expansion after listing. "We had reached a critical size of 20 million tonnes, which put us in the top ten in the Indian cement industry with a very clear roadmap to come into the top five, so we felt that this is the right time to tap the capital market and go for the IPO," said Jindal. The company, which currently has the capacity for 20 MTPA (million tonnes per annum), has sufficient "mines, assets and land" to get 60 MTPA "as soon as possible", he said at a media round-table here. When asked about the funding, Jindal said: "In terms of stake sale, at some point in time we would tap the capital markets either through a QIP or through a follow-on offering if we require funds to expand faster. As of now, JSW Cement's internal accruals will be "sufficient to get to 42 MTPA" and even for 60 MTPA, said Jindal. "... but if required, we can always do a QIP and dilute some stake in order to raise the funds. We are also keeping that window open, if any good acquisition comes up, then again we could dilute some stake and look for the acquisition of any asset," said Jindal. Jindal expects the Indian cement industry to grow 6-7 per cent in the current fiscal, helped by factors such as the government's increased spending on infrastructure. The company said the June quarter of FY26 was impacted due to unseasonal rains, early arrival of monsoon and geopolitical disturbances. "I think Q2 has been very positive so far because monsoons came a little bit early in Q1," he said, adding, "the industry grew at about 4 per cent pan-India in Q1, I expect Q2 to be better, and I think the target of being 6.5 per cent to 7 per cent for the year is ... definitely we are on track for that as an industry." When asked about margins in the cement industry, Jindal said the company is working on it by reducing the logistics costs. "We are fortunate to have access to the rail and port infrastructure of the JSW group. Hence, our logistics cost is materially lower than the competition," he said. Besides, the company has now started deploying electric trucks as well as LNG trucks on some of our routes. About sales realisation of the industry, which was under pressure from last two years due to intense competition and consolidation happening in the cement industry, Jindal said: "In terms of realisation, the lows of FY25 are behind us, cement prices have recovered to a great extent, and you could see a much improved performance in Q1 by all the leading players." About the consolidation happening in the cement industry, Jindal said JSW is also "constantly evaluating all acquisition opportunities. We are not against acquiring". However, he also added the price of acquisitions has been set at a very high level. Because of the transactions that have taken place over the last two years, building capacity organically for JSW is much cheaper and more value-accretive than acquiring. JSW Cement, had on Wednesday mobilised Rs 1,080 crore from anchor investors. 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 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. 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.
News18
3 days ago
- Business
- News18
JSW Cement IPO booked 56 pc on day 2 of offer
Agency: PTI New Delhi, Aug 8 (PTI) The initial public offer of JSW Cement Ltd got subscribed 56 per cent on the second day of bidding on Friday. The initial share sale received bids for 10,19,35,638 shares against 18,12,94,964 shares on offer, according to NSE data. Retail Individual Investors (RIIs) part fetched 72 per cent subscription, while the category for non-institutional investors got subscribed 62 per cent. Qualified Institutional Buyers (QIBs) part received 24 per cent subscription. JSW Cement on Wednesday mobilised Rs 1,080 crore from anchor investors. 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 (OFS), will conclude on August 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. JM Financial Ltd, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company and SBI Capital Markets are the book-running lead managers to the offer. PTI SUM SUM SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: 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.
