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New Delhi: JSW Cement is set to launch its IPO worth Rs 3600 crore on August 7. JSW Cement is part of the JSW Group. The public debut is part of the efforts to raise Rs 3600 crore from the market.
The total size of the issue is lower than the earlier proposed issue of up to Rs 4000 crore, as per the latest RHP (Red Herring Prospectus). The IPO will open for public subscription on August 11, while the anchor investor bidding date will be August 6, said the RHP filed on Friday.
The IPO comprises a fresh issue of equity worth Rs 1600 crore and an Offer-for-Sale (OFS) worth Rs 2000 crore by key promoters of the company. As part of the OFS, key promoters like Apollo Management are set to offload shares worth Rs 938.50 crore, and SBI (State Bank of India) is offloading their shares worth Rs 129.70 crore.
As per the draft paper, the company is set to utilise the proceeds worth Rs 800 crore partly to finance the new integrated cement unit in Nagaur and Rs 520 crore on repayment of outstanding borrowings availed by it. The rest of the amount would be used for general corporate expenditure.
In August 2024, JSW had preliminarily filed its IPO papers with SEBI, effectively putting its application on hold by market regulator. Later on January 6, the market regulator finally gave its approval for public issue.
JM Financial Ltd., Axis Capital Ltd., Citigroup, Global Markets India Pvt. Ltd., DAM Capital Advisors Ltd., and others are roped in for managing the company's IPO.
The company's financial performance says that it minted a revenue of Rs 5813 crore as against the Rs 6028 crore the company minted in FY24 and Rs 5836 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.
JSW cements is India's largest manufacturer of ground granulated blast furnace slag, an eco-friendly product produced entirely from blast furnace slag (a by-product of the steel manufacturing process), with a market share in terms of GGBS sales of 84 percent in FY25. The company operates its plants in Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha, and Dolvi in Maharashtra.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.)
