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With an issue size of Rs. 3,600 crore, JSW Cement, part of the diversified JSW Group, launched its Initial Public Offering (IPO) on August 7, 2025. The IPO price is in the range of Rs. 139 to Rs. 147 per share, with a total company valuation of Rs. 20,000 crore in the upper price band.
The IPO comprises a fresh issue of Rs. 1,600 crore and an Offer for Sale (OFS) of Rs. 2,000 crore from existing shareholders. The OFS includes shares being divested by Apollo Management’s affiliate, AP Asia Opportunistic Holdings, Synergy Metals Investments, and the State Bank of India (SBI).
The JSW Cement IPO opened strong on Day 1, drawing interest from both retail and institutional investors. The funds from the IPO will be used for many initiatives, including Rs. 800 crore to fund a new cement plant in Nagaur, Rajasthan, Rs. 520 crore to repay loans, and the balance for general corporate purposes.
The IPO subscription will be open from August 7 to August 11, 2025. The basis of allotment will be finalized on August 12, with refunds scheduled for August 13. Shares are expected to be credited to investors' demat accounts on August 13, with the listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) set for August 14.
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Before the IPO launch, JSW Cement raised Rs. 1,080 crore from anchor investors. This includes institutional investors like Nomura, the Government of Singapore, Abu Dhabi Investment Authority, and SBI Mutual Fund. The anchor investors were allocated 73,469,386 equity shares at Rs. 147 each, bringing the total transaction amount to Rs. 1,080 crore.
Early figures indicate that the JSW Cement IPO Subscription is gaining momentum among HNI investors. Market watchers are keeping a close eye on the JSW Cement GMP Today for signs of listing gains.
The grey market premium (GMP) on Day 1 for the JSW Cement IPO is Rs. 6, indicating a positive response. If GMP remains stable, we could see JSW Cement listed at Rs. 153 per share, which is 4.08% higher than the upper issue price of Rs. 147. The GMP has changed quite dramatically in the last few days, going from Rs. 0 to Rs. 19.
JSW Cement initially intended to raise Rs. 4,000 crore through the IPO but reduced the plan to a Rs. 3,600 crore offering. Parth Jindal, Managing Director of JSW Cement, explained that the reduction was due to the current market conditions and the company’s future dilution plans. He noted that the cement industry was facing challenges at the time of the announcement, prompting a more cautious approach.
Given the substantial institutional support and a clear growth strategy, the IPO of JSW Cement is expected to be well-subscribed. The company's plans to pay down debt and grow capacity make it even more appealing. With the IPO on August 14, investors will gain a deeper understanding of market sentiment, and it will be important for JSW Cement to test the public market.
