JSW Cement IPO: Company raises Rs 1,080 crore from anchor investors ahead of issue

JSW Cement IPO: Company raises Rs 1,080 crore from anchor buyers forward of issue

JSW Cement, whose preliminary public providing (IPO) will open for subscription on Thursday, raised Rs 1,080 crore from 52 anchor buyers on Wednesday. The firm allotted over 7.3 crore shares on the higher worth band of Rs 147 per fairness share.

Out of the overall allocation, 44.45% shares have been allotted to 9 home mutual funds, which have utilized via a complete of 20 schemes. MFs paid Rs 480 crore to purchase these shares.

Over 22% of the anchor quota was allotted to six funds of SBI Mutual Fund with SBI Multicap Fund accounting for lion’s share at 10.19%. It is adopted by SBI Flexicap Fund at 9.26%. Others embrace Tata Large Cap Fund, Motilal Oswal Large Cap Fund, Baroda BNP Paribas Small Cap, Bandhan Small Cap Fund.

Among the international funds are Blackrock Emerging Frontiers Master Fund Limited, Nomura Funds Ireland, Government of Singapore and Morgan Stanley Investment Fund.

JSW Cement IPO GMP today:
Live OccasionsThe IPO of JSW Cement Limited is commanding a gray market premium (GMP) of Rs 5, down from Rs 19 on Monday, indicating a 3.40% uptick.

JSW Cement has announced the worth band of Rs 139 to Rs 147 per fairness share, with a face worth of Rs 10. The Rs 3,600 crore IPO will open for public subscription on Thursday, August 7, and shut on Monday, August 11. The IPO is buying and selling at a gray market premium of Rs 20–21, suggesting a possible itemizing acquire of round 13.61% over the issue worth of Rs 147 per share.

JSW Cement IPO Structure and Allocation

The IPO contains a contemporary issue of fairness shares price Rs 1,600 crore and a suggestion on the market (OFS) of shares aggregating to Rs 2,000 crore. The public issue has been structured with as much as 50% reserved for certified institutional consumers (QIBs), 15% for non-institutional buyers (NIIs), and at the very least 35% for retail buyers.

Within the OFS, Apollo Management, via its affiliate AP Asia Opportunistic Holdings Pte Ltd, will promote shares price Rs 931.80 crore, while Synergy Metals Investments Holding Ltd will supply shares valued at Rs 938.50 crore, and the State Bank of India (SBI) will divest shares totalling Rs 129.70 crore.

Synergy Metals is a subsidiary of a non-public fairness fund based in 2015 by former ArcelorMittal government Sudhir Maheshwari.

Use of Proceeds

According to the draft paperwork, JSW Cement plans to allocate Rs 800 crore to partially fund a new built-in cement facility in Nagaur, Rajasthan, and Rs 520 crore for the compensation or prepayment of its present borrowings. The remaining funds might be designated for common company expenditures.

Mumbai-based JSW Cement had initially deliberate to boost Rs 4,000 crore—break up equally between a contemporary issue and a suggestion on the market (OFS). However, as per the latest Red Herring Prospectus (RHP), the dimensions of the contemporary issue has been decreased by Rs 400 crore.

JSW Cement IPO Key Dates

The foundation of allotment is predicted to be finalised on Tuesday, August 12. Refunds might be processed on Wednesday, August 13, and shares might be credited to demat accounts the same day. The inventory is prone to debut on the BSE and NSE on Thursday, August 14.

Financial Performance

JSW Cement reported Rs 6,028 crore in income from operations in FY24, up from Rs 5,837 crore a yr earlier. However, internet revenue fell to Rs 62 crore from Rs 104 crore in FY23.

JSW Cement IPO Lead Managers

JM Financial, Axis Capital, Citigroup, and Kotak Investment Banking are the book-running lead managers for the IPO.

Company Details

JSW Cement, part of the JSW Group, manufactures eco-friendly cement with a deal with sustainability and innovation within the building sector.

The firm operates seven crops across India, including one built-in unit, one clinker unit, and 5 grinding models. These services are positioned in Andhra Pradesh (Nandyal), Karnataka (Vijayanagar), Tamil Nadu (Salem), Maharashtra (Dolvi), West Bengal (Salboni), and Odisha (Jajpur), together with the majority-owned clinker unit of Shiva Cement in Odisha.

As of 31 March 2025, JSW Cement had a complete put in grinding capability of 20.60 million metric tonnes every year (MMTPA), distributed across areas as follows: 11.00 MMTPA within the South, 4.50 MMTPA within the West, and 5.10 MMTPA within the East.

(Disclaimer: Recommendations, recommendations, views and opinions given by the specialists are their very own. These don’t signify the views of the Economic Times)

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