JSW Cement IPO: Price band set at ₹139 to ₹147 per share; check lot size, key dates and more

JSW Cement IPO: The initial public offering of green cement producer JSW Cement will open on August 7. The price band has been set at ₹139 to ₹147 per share. The issue will conclude on August 11.

The bidding for anchor investors would occur on August 6, according to the red herring prospectus (RHP).

The ₹3,600 crore IPO of JSW Cement, which is part of the Sajjan Jindal-promoted diversified JSW Group, consists of a fresh issue valued at ₹1,600 crore and an offer for sale (OFS) of ₹2,000 crore.

Under the OFS, private equity giant Apollo Management's affiliate AP Asia Opportunistic Holdings Pte Ltd will divest shares worth ₹931.80 crore, State Bank of India (SBI) will sell shares worth ₹129.70 crore, and Synergy Metals Investments Holding Ltd will offload shares aggregating to ₹938.50 crore.

The money generated will be used to the tune of ₹800 crore to part-finance a new integrated cement plant at Rajasthan's Nagaur, ₹520 crore for debt repayment, and the remainder for general corporate purposes.

The Mumbai-based firm had earlier proposed to raise ₹4,000 crore, but it cut its fresh issue size by ₹400 crore, as per the latest RHP.

JSW Cement IPO: Lot size

A lot consists of 102 shares and multiples thereof. The company has reserved half of the offer for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

JSW Cement IPO timeline: Allotment and listing dates

About JSW Cement

According to the CRISIL report, JSW Cement is the largest maker of ground granulated blast furnace slag (GGBS), an eco-friendly product produced completely from blast furnace slag (a by-product of the steel production process), with a market share of 84% in terms of GGBS sales in the financial year 2024–25.

The company reported a revenue of ₹5,813.1 crore for FY25, compared to ₹6,028.10 crore in FY24. It had posted a loss of ₹163.77 crore in FY25 vs a profit of ₹62 crore in FY24.

JM Financial Ltd, Citigroup Global Markets India Pvt Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Pvt Ltd, Jefferies India Pvt Ltd, DAM Capital Advisors Ltd, SBI Capital Markets Ltd, and Kotak Mahindra Capital Company Ltd are the issue's book running lead managers, while KFin Technologies is the registrar.