JSW Cement IPO opens on Thursday, August 7. The company is eyeing a total fundraise of ₹3,600 crore, with ₹1,600 crore coming from a fresh issue and ₹2,000 crore via an Offer for Sale (OFS) by existing shareholders.
IPO Timeline and Price Band
The public issue will close on August 11, and the company’s shares are expected to be listed on both the NSE and BSE, with a tentative listing date set for August 14. The price band for the IPO is fixed between ₹139 and ₹147 per share.
IPO Allocation Breakdown
Out of the total issue size, 50% (₹1,800 crore) is reserved for Qualified Institutional Buyers (QIBs), 15% for High Net-Worth Individuals (HNIs), and the remaining 35% for retail investors.
Big-Name Anchor Investors
Ahead of the IPO launch, JSW Cement has already secured ₹1,080 crore from 52 anchor investors, including some top global and domestic names. These include:
SBI Multicap Fund
Blackrock Emerging Frontiers Master Fund
Government Pension Fund Global
Motilal Oswal Large Cap Fund
Morgan Stanley Investment Fund
Societe Generale-ODI
Bandhan Small Cap Fund
Grey Market Premium
JSW Cement’s shares are already creating a buzz in the grey market, trading at around ₹152 per share, which reflects a grey market premium (GMP) of ₹5 over the upper end of the IPO price band.
How Will the Funds Be Used?
Of the ₹1,600 crore fresh issue, ₹800 crore will go towards setting up a new integrated cement plant in Nagaur, Rajasthan. ₹520 crore will be used for debt repayment. The rest will be allocated for general corporate purposes.
Currently, the promoters hold a 78.61% stake in JSW Cement. Post-IPO, their stake will reduce to 72.33%. As of March 31, 2025, the company had total borrowings of ₹6,166.6 crore.
