The Initial Public Offering of JSW Cement Limited was subscribed 7.77 times on the Final day of bidding.The issue received bids of 1,40,91,39,588 shares against the offered 18,12,94,964 equity shares, at a price band of ₹139-147, according to the data available on the stock exchanges.
Retail Portion and Non-Institutional Investors Portion were subscribed 1.81 times and 10.97 times respectively, whereas Qualified Institutional Buyer Portion was subscribed 15.80 times. JM Financial Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, DAM Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
JSW Cement part of the JSW Group, a multinational conglomerate with a portfolio of diversified businesses across various sectors such as steel, energy, maritime, infrastructure, defence, business-to-business e-commerce, realty, paints, sports and venture capital. It started its operations in 2009 in the southern region of India through its single grinding unit in Vijayanagar, Karnataka.It is among the top three fastest growing cement manufacturing companies in India in terms of increase in installed grinding capacity and sales volume from Fiscal 2015 to Fiscal 2025 (among the peers in terms of installed capacity and sales volume), according to the CRISIL Report. It is also among the top 10 cement companies in India in terms of installed capacity and sales volume as of March 31 2025, according to CRISIL Report.The company is India’s largest manufacturer of ground granulated blast furnace slag (“GGBS”), an eco-friendly product produced entirely from blast furnace slag (a by-product of the steel manufacturing process), with a market share in terms of GGBS sales of 84.00% in Fiscal 2025, according to the CRISIL Report.
Its product portfolio consists of blended cement (including PSC, PCC and PPC), GGBS, ordinary portland cement (“OPC”), clinker and a range of allied cementitious products such as ready-mix concrete (“RMC”), screened slag, construction chemicals and waterproofing compounds. As of March 31, 2025, it operates seven plants in India, which comprise one integrated unit, one clinker unit and five grinding units across the states of Andhra Pradesh (Nandyal plant), Karnataka (Vijayanagar plant), Tamil Nadu (Salem plant), Maharashtra (Dolvi plant), West Bengal (Salboni plant), Odisha (Jajpur plant and our majority owned Shiva Cement Limited clinker unit).
