JSW Cement's IPO: Cementing a New Era

JSW Cement, part of the Sajjan Jindal-promoted JSW Group, is poised to make waves with its truncated Rs 3,600-crore initial public offering (IPO) set to launch on August 7. This move follows a reduction from an originally proposed Rs 4,000 crore IPO, as outlined in the Red Herring Prospectus (RHP).

The IPO proceeds are targeted at funding a Rs 800 crore integrated cement unit in Nagaur, Rajasthan, and Rs 520 crore is earmarked for prepayment or repayment of outstanding borrowings. The Mumbai-based company's initial share sale will close on August 11, with anchor investor bidding beginning August 6.

The IPO's Offer for Sale includes shares offloaded by Apollo Management, Synergy Metals Investments Holding, and State Bank of India. JSW Cement's financial trajectory shows a loss of Rs 163.77 crore in FY25, contrasting FY24's profit of Rs 62 crore. The company, however, retains a strong market position with an 84% market share in ground granulated blast furnace slag sales in FY25.

(With inputs from agencies.)