JSW Cement IPO to open on August 7; check price band, revised issue size, GMP & more

JSW Cement, part of the Sajjan Jindal-led JSW Group, is set to launch its initial public offering (IPO) on August 7, 2025. The IPO will close on August 11, 2025. The price band for the offering is set between Rs 139 and Rs 147 per share. The IPO consists of a fresh issue worth Rs 1,600 crore and an offer for sale (OFS) by existing shareholders, amounting to Rs 2,000 crore. The total expected proceeds at the upper end of the price band is approximately Rs 3,600 crore.

The IPO's objectives include raising funds to establish a new integrated cement unit in Nagaur, Rajasthan, and prepaying or repaying certain borrowings. Specifically, Rs 800 crore will be allocated for the new plant, while Rs 520 crore is earmarked for debt reduction. The remainder will address general corporate purposes.

Incorporated in 2006, JSW Cement manufactures green cementitious products, including blended cement like Portland Slag Cement (PSC) and Portland Composite Cement (PCC). The company boasts an installed grinding capacity of 20.60 million tonnes per annum (MMTPA) across various regions in India.

Financially, JSW Cement reported revenue of Rs 5,813 crore for the fiscal year 2024-25, a decrease of 3.5% from the previous year's Rs 6,028.1 crore. However, the company recorded a net loss of Rs 163.76 crore, contrasting with a net profit of Rs 62 crore in FY24. Last heard, the company was commanding a GMP of Rs 21 per share.

JSW Cement competes with major industry players such as UltraTech Cement, Shree Cement, Ambuja Cements, Dalmia Bharat, and JK Cement. The IPO's lead managers include JM Financial, Axis Capital, Citi Global Markets India, and others. Kfin Technologies has been appointed as the registrar to the issue.

The minimum bid lot is set at 102 shares, requiring a minimum investment of Rs 14,994 at the highest price band. Bidding for anchor investors is scheduled for August 6, 2025. The basis of allotment is likely to be finalised on August 12, 2025, with shares expected to list on the NSE and BSE on August 14, 2025.