Mumbai: JSW Cement Limited is coming out with its IPO priced at Rs 139 to Rs 147 per equity share – aggregating to Rs 3,600 crores – which will be opening on August 7, 2025 and closing on August 11, 2025.
The IPO is a mix of fresh issue of shares upto Rs 1,600 crores and an offer for sale upto Rs 2,000 crores by the selling shareholders.
Parth Jindal, Managing Director, JSW Cement, said that the proceeds from the fresh issue of Rs 800 crores will be used for part financing cost of establishing a new integrated cement unit at Nagaur, Rajasthan, while upto Rs 520 crores will be used for prepayment or repayment, in full or part, of all or a portion of certain outstanding borrowings availed by the Company and general corporate purposes.
The Company is India’s largest manufacturer of ground granulated blast furnace slag (GGBS), an eco-friendly product produced entirely from blast furnace slag (a byproduct of the steel manufacturing process) with 84% market share, according to a CRISIL Report.
JSW Cement Limited has the lowest carbon dioxide emission intensity among its peer cement manufacturing companies in India and globally, the Report stated.
Replying to questions, Jindal said that with no off-takers for the huge quantities of slag coming off JSW Steel’s steel production, the Company ‘pioneered’ production of ‘slag cement’ to make it profitably India’s fastest-growing cement, while also acquiring mines with limestone deposits and eyeing expansion from 20 million tonnes to 40 million tonnes in a 5-year to 7- year period.
The Company sales are through a well-connected distribution network comprising 4,653 dealers, 8,844 sub-dealers and 158 warehouses.
JM Financial Limited, Citigroup Global Markets India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers to the Offer, and KFin Technologies Limited is the registrar of the Offer.
