JSW Cement IPO subscribed 56% on Day 2; GMP drops to Rs 8
JSW Cement Day 2: The retail investors' quota was subscribed 72 per cent, while the non-institutional investors (NIIs) portion saw 62 per cent subscription. The qualified institutional buyers (QIBs) category received bids for only 23 per cent of the shares reserved for them.
- Aug 8, 2025,
- Updated Aug 8, 2025 6:28 PM IST
The initial public offering (IPO) of JSW Cement received bids for 10,19,35,638 shares against 18,12,94,964 shares on offer, BSE data showed on Friday. The issue was subscribed 0.56 times on the second day of bidding.
The retail investors' quota was subscribed 72 per cent, while the non-institutional investors (NIIs) portion saw 62 per cent subscription. The qualified institutional buyers (QIBs) category received bids for only 23 per cent of the shares reserved for them.
The IPO opened on August 7, 2025, and will close on August 11, 2025, with a price band of Rs 139–147 per share. Investors can bid for a minimum of 102 equity shares and in multiples thereafter.
The offer comprises a fresh issue worth Rs 1,600 crore and an offer for sale (OFS) of Rs 2,000 crore. Selling shareholders include AP Asia Opportunistic Holdings Pte Ltd, which will offload 63,387,755 shares for Rs 931.8 crore; Synergy Metals Investment Holding, which will sell 63,843,537 shares for Rs 938.5 crore; and State Bank of India (SBI), which will offload 8,823,129 shares for Rs 129.7 crore, all calculated at the upper price band.
Proceeds from the fresh issue will be utilised as follows: Rs 800 crore for partially funding the construction of a new integrated cement unit in Nagpur, Rajasthan; Rs 520 crore for repayment/prepayment/redemption of certain borrowings; and the balance for general corporate purposes.
Ahead of the IPO, JSW Cement raised Rs 1,079.99 crore from anchor investors, allotting 73.46 lakh shares at Rs 147 each to 52 anchor investors.
The grey market premium (GMP) of JSW Cement has dropped sharply amid rising market volatility and subdued subscription levels. Last heard, the GMP stood at Rs 8 per share, indicating potential listing gains of 5.44 per cent, compared with Rs 19 per share when the price band was first announced.
JSW Cement, part of the diversified JSW Group, is a producer of green cement in India. As of 31 March 2025, it operated seven plants across the country with an installed grinding capacity of 20.60 MMTPA and a clinker capacity of 6.44 MMTPA.
The initial public offering (IPO) of JSW Cement received bids for 10,19,35,638 shares against 18,12,94,964 shares on offer, BSE data showed on Friday. The issue was subscribed 0.56 times on the second day of bidding.
The retail investors' quota was subscribed 72 per cent, while the non-institutional investors (NIIs) portion saw 62 per cent subscription. The qualified institutional buyers (QIBs) category received bids for only 23 per cent of the shares reserved for them.
The IPO opened on August 7, 2025, and will close on August 11, 2025, with a price band of Rs 139–147 per share. Investors can bid for a minimum of 102 equity shares and in multiples thereafter.
The offer comprises a fresh issue worth Rs 1,600 crore and an offer for sale (OFS) of Rs 2,000 crore. Selling shareholders include AP Asia Opportunistic Holdings Pte Ltd, which will offload 63,387,755 shares for Rs 931.8 crore; Synergy Metals Investment Holding, which will sell 63,843,537 shares for Rs 938.5 crore; and State Bank of India (SBI), which will offload 8,823,129 shares for Rs 129.7 crore, all calculated at the upper price band.
Proceeds from the fresh issue will be utilised as follows: Rs 800 crore for partially funding the construction of a new integrated cement unit in Nagpur, Rajasthan; Rs 520 crore for repayment/prepayment/redemption of certain borrowings; and the balance for general corporate purposes.
Ahead of the IPO, JSW Cement raised Rs 1,079.99 crore from anchor investors, allotting 73.46 lakh shares at Rs 147 each to 52 anchor investors.
The grey market premium (GMP) of JSW Cement has dropped sharply amid rising market volatility and subdued subscription levels. Last heard, the GMP stood at Rs 8 per share, indicating potential listing gains of 5.44 per cent, compared with Rs 19 per share when the price band was first announced.
JSW Cement, part of the diversified JSW Group, is a producer of green cement in India. As of 31 March 2025, it operated seven plants across the country with an installed grinding capacity of 20.60 MMTPA and a clinker capacity of 6.44 MMTPA.