JSW Cement IPO: JSW Cement’s initial public offering (IPO) has been subscribed 4.87 times on the final day of bidding, Monday (August 11). According to the BSE data, the IPO bids for 88,23,09,384 shares against the 18,12,94,964 shares on offer.
Among investor categories, retail individual investors (RIIs) subscribed 1.35 times their allotted portion, while non-institutional investors subscribed 4.76 times until 2:51 pm. Meanwhile, qualified institutional buyers (QIBs) subscribed 11.10 per cent.
On Wednesday, the company raised Rs 1,080 crore from anchor investors. The IPO is priced in the range of Rs 139 – Rs 147 per share,valued at about Rs 20,000 crore at the upper end.
The IPO comprises a fresh share sale worth Rs 1,600 crore and an offer-for-sale (OFS) of Rs 2,000 crore by existing shareholders. The offering closes on August 11.
According to the draft prospectus, JSW Cement plans to use Rs 800 crore from the net proceeds to partially fund a new integrated cement plant at Nagaur, Rajasthan. An additional ₹520 crore will be used for debt repayment, with the remainder allocated for general corporate purposes. As of March 31, 2025, the company’s total borrowings stood at Rs 6,166.6 crore.
JSW Cement financial performance
On the financial front, JSW Cement reported revenue from operations of Rs 5,813.1 crore for FY25, compared to Rs 6,028.1 crore in FY24 and Rs 5,836.7 crore in FY23. The company posted a net loss of Rs 163.77 crore in FY25.
Other details
Here are other details of the IPO:
- Market Capitalisation (Post Issue): Rs 19,038 crore to Rs 20,041 crore, based on price band
- Bid Lot: 102 shares and in multiples thereof
Allocation structure
- Qualified Institutional Buyers (QIBs): 50 per cent
- Retail Investors: 35 per cent
- Non-Institutional Investors (NIIs): 15 per cent
BRLMs, registrar details
The IPO book-running lead managers of the IPO are JM Financial, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs India, Jefferies India, Kotak Mahindra Capital, and SBI Capital Markets, while KFin Technologies is serving as the registrar to the issue.
