JSW Cement Makes Muted D-Street Debut With 4% Premium Over IPO Price

JSW Cement Ltd. shares listed at 4% premium over the IPO price on Thursday. The scrip opened at Rs 153.5 apiece on the NSE and Rs 153 on the BSE. The issue price was Rs 147.

The company is now the sixth firm from billionaire Sajjan Jindal-led JSW Group to be listed on the stock market. The last one was JSW Infrastructure Ltd., which went public in October 2023.

The JSW Cement IPO was launched last week to sell shares worth Rs 3,600 crore. The company raised Rs 1,600 crore via a fresh issue, while existing shareholders, including State Bank of India, sold shares via an offer for sale aggregating up to Rs 2,000 crore.

The IPO was subscribed 7.77 times, led by institutional (15.80 times) and non-institutional (10.97 times) demand.