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IPO News

JSW Cement IPO ends with 7.77x subscription
12-Aug-25   11:19 Hrs IST
The initial public offer of JSW Cement received bids for 1,40,93,19,924 shares as against 18,12,94,964 shares on offer. The issue was subscribed 7.77 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 15.80 times. The Non-Institutional Investors (NIIs) category was subscribed 10.97 times. The Retail Individual Investors (RIIs) category was subscribed 1.81 times.

The issue opened for bidding on 7 August 2025 and it closed on 11 August 2025. The price band of the IPO is fixed between Rs 139 and 147 per share.

The IPO consists of a fresh issue of Rs 1600 crore and an offer for sale of Rs 2000 crore.

The selling shareholders include AP Asia Opportunistic Holdings Pte, which will offload 63387755 equity shares at the upper price band, aggregating Rs 931.8 crore; Synergy Metals Investment Holding, which will offload 63843537 equity shares at the upper price band, aggregating Rs 938.5 crore; and State Bank of India, which will offload 8823129 equity shares at the upper price band, aggregating Rs 129.7 crore.

Out of the proceeds from the fresh issue, Rs 800 will be used to partially finance the cost of establishing a new integrated cement unit in Nagpur, Rajasthan; Rs 520 crore will be used for repayment/prepayment/redemption, in full or in part, of certain borrowings availed of by the company; and the balance for general corporate purposes.

JSW Cement (JSWCL) is a leading manufacturer of green cement in India and part of the diversified JSW Group. It operates seven plants across India with a total installed grinding capacity of 20.60 MMTPA and clinker capacity of 6.44 MMTPA as of 31 March 2025. The company produces eco-friendly cement products such as Portland slag cement, Portland composite cement, and GGBS, along with OPC, ready-mix concrete, and other allied products. JSWCL is expanding its footprint through greenfield and brownfield projects, aiming to double its grinding and clinker capacities.

Ahead of the IPO, JSW Cement on, 4 August 2025, raised Rs 1,079.99 crore from anchor investors. The board allotted 73.46 lakh shares at Rs 147 each to 52 anchor investors.

The firm reported a consolidated net loss of Rs 114.09 crore and sales of Rs 5813.07 crore for the twelve months ended on 31 March 2025.

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