Sebi gives nod to JSW Cement's Rs 4,000 cr IPO after 4-month hold-up

India's markets regulator has approved JSW Cement's initial public offering, a notification on the regulator's website showed on Monday, four months after it put the IPO on hold for reasons it did not disclose. 

The cement making arm of the steel-to-energy JSW group filed for an IPO worth up to Rs 4,000 crore ($461.46 million) in September, aiming to capitalise on the country's booming stock market and long-term demand growth expectations for the building material. 

The company had said it would issue fresh shares worth Rs 2,000 crore, while existing shareholders would sell shares worth the same amount. 

In 2024, 91 large firms went public on Indian exchanges and raised a record Rs 1.6 trillion via IPOs, according to analytics firm Prime Database, with the bull run expected to continue in 2025. 

JSW Cement aims to go public at a time when depressed prices and demand cool-down has weighed on the earnings of listed firms in the sector.   

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