The initial public offering (IPO) of JSW Cement Ltd. is set to open on Thursday, Aug. 7. The company, backed by Sajjan Jindal's JSW Group, is a leading manufacturer of green cement. Here's a quick look at the grey market premium (GMP) and other important details about the JSW Cement IPO.
JSW Cement IPO GMP Today
The grey market premium (GMP) for JSW Cement IPO dropped to Rs 6 as of 7:00 a.m. Aug. 7, from Rs 14 just a day earlier, according to InvestorGain. With the upper end of the IPO's price band set at Rs 147, the current GMP signals an estimated listing price of Rs 153 per share, a premium of 4.08% over the issue price.
Note: GMP does not represent official data and is based on speculation.
JSW Cement IPO Key Details
The mainboard IPO is a book-built issue worth Rs 3,600 crore. It's a combination of a fresh issue of 10.88 crore shares, worth Rs 1,600 crore, and an offer-for-sale (OFS) component of 13.61 crore shares, amounting to Rs 2,000 crore.
JSW Cement IPO price band has been set between Rs 139 and Rs 147 per share. Retail investors can apply for a minimum of a single lot size of 102 shares, aggregating to an investment of Rs 14,178.
The subscription window for the JSW Cement IPO will close on Aug. 11. The IPO allotment status is expected to be finalised on Aug. 12. This will be followed by initiation of refunds to unsuccessful applicants and credit of shares to the demat accounts of successful applicants on Aug. 13.
Shares of JSW Cement Ltd. are expected to be listed on the BSE and NSE on Aug. 14.
JM Financial Ltd. is the book-running lead manager for the JSW Cement IPO, while Kfin Technologies Ltd. is the issue registrar.
JSW Cement Business And Financials
JSW Cement Ltd., incorporated in 2006, is a leading manufacturer of green cement. The company operates seven plants, which includes one integrated unit, one clinker unit and five grinding units. These are located in Andhra Pradesh (Nandyal), Karnataka (Vijayanagar), Tamil Nadu (Salem), Maharashtra (Dolvi), West Bengal (Salboni) and Odisha (Jajpur).
Use Of Proceeds
JSW Cement plans to use the proceeds from the IPO for three main purposes. It will partly fund the construction of a new integrated cement unit in Nagaur, Rajasthan. A portion of the funds will go toward repaying existing borrowings. The remaining amount will be used for general corporate purposes.
Financials
JSW Cement's total income stood at Rs 5,914.67 crore in the financial year ended March 31, down from Rs 6,114.6 crore in the previous fiscal. The company posted a net loss of Rs 163.77 crore in FY25, compared to a net profit of Rs 62.01 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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