JSW Cement sets price band of ₹139-147/share for ₹3,600 crore IPO
The proceeds from the fresh issue will be utilised for part-financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan and for repayment of loans
 "JSW Cement sets price band of ₹139-147/share for ₹3,600 crore IPO")
JSW Cement has priced its ₹3,600 crore initial public offering (IPO) between ₹139 and ₹147 per share. The IPO opens for subscription on August 7 and concludes on August 11. The IPO is a mix of fresh issue of shares up to ₹1,600 crore and an offer for sale up to ₹2,000 crore by the selling shareholders. JSW Cement had planned to raise ₹4,000 crore earlier through an IPO, but it reduced the amount by ₹400 crore from the fresh issue portion.
The proceeds from the fresh issue will be utilised for part-financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan and for repayment of loans.
JSW Cement is among the top 10 cement companies in India in terms of installed capacity and sales volume as of March 31 2025.
The company began its operations in 2009 in Vijayanagar, Karnataka. Since then, it has expanded its presence across the southern, western, and eastern regions of India, as well as the UAE. JSW Cement's product portfolio consists of blended cement, ground granulated blast furnace slag (GGBS), ordinary portland cement, clinker and a range of allied cementitious products such as ready mix concrete, screened slag, construction chemicals, and waterproofing compounds.
As of March 31, 2025, the company operated seven plants in India.
Parth Jindal, managing director of JSW Cement, stated during a media interaction that the company prefers organic growth over acquisitions.
"For us, when we look at our growth journey and the kind of geographies that we can enter, and at the cost at which we can enter through the organic route, we feel that that's a more prudent strategy for us. The second point is that the cement industry has very large entrenched players, with very strong balance sheets, with low to no debt and cash. So, if any one of them wants to acquire anything, they can out-muscle JSW Cement very easily. Right now we don't have the aukaat, I would say, to challenge them in any acquisition," said Jindal.