JSW Cement sets price band of Rs 139-147 a share for IPO

Anchor bidding will commence on August 6, and the issue will close on August 11.

JSW Cement Ltd has set a price band of Rs 139-147 per share for its Rs 3,600 crore initial public offering (IPO), which will open for subscription on August 7.

Anchor bidding will commence on August 6, and the issue will close on August 11.

The basis of allotment will be finalised on August 12, with shares credited to demat accounts on August 13. The stock is scheduled to list on exchanges on August 14.

The IPO comprises a fresh issue of shares worth Rs 1,600 crore and an offer for sale (OFS) of up to Rs 2,000 crore by existing shareholders and promoters.

At the upper end of the price band, JSW Cement’s implied market capitalisation will be around Rs 20,185 crore.

The company will utilise Rs 800 crore from the proceeds to part-finance a new integrated cement unit at Nagaur, Rajasthan, and Rs 520 crore for prepayment or repayment of outstanding borrowings.

On July 25, Moneycontrol was the first to report that JSW Cement would reduce the primary component of its IPO from Rs 2,000 crore to Rs 1,600 crore and launch the issue in the week of 4th August at a valuation of around Rs 20,000 crore.

As of March 2025, JSW Cement operated seven plants with an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) and a clinker capacity of 6.44 MMTPA. It is undertaking additional greenfield and brownfield projects to ramp up grinding capacity to 41.85 MMTPA and clinker capacity to 13.04 MMTPA.

JSW Cement competes with players such as UltraTech Cement, Shree Cement, Ambuja Cements, Dalmia Bharat, and JK Cement.

JM Financial, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Company, and SBI Capital Markets are the merchant bankers managing the IPO.