JSW Cement's IPO: A New Chapter Amid Strategic Adjustments
JSW Cement has mobilized Rs 1,080 crore from anchor investors ahead of its IPO, which is set to raise Rs 3,600 crore, reduced from the initial Rs 4,000 crore plan, due to current business needs. The funds will be used for expansion, debt reduction, and general purposes.
- Country:
- India
In a strategic move, JSW Cement, a key segment of the diversified JSW Group, successfully raised Rs 1,080 crore from anchor investors, including several prominent institutional players, ahead of its forthcoming initial public offering (IPO).
The company's IPO, opening for public subscription shortly, has seen the price band set between Rs 139 and Rs 147 per share, with Rs 1,600 crore earmarked for new issues and Rs 2,000 crore through Offer for Sale (OFS) by current shareholders.
Proceeds from the IPO will support a new integrated cement unit in Rajasthan, debt repayment, and general corporate needs. Despite a reported loss for FY25, JSW Cement continues to align its operational strategies under the leadership of Managing Director Parth Jindal to navigate the evolving market landscape.
(With inputs from agencies.)
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