JSW Cement IPO Day 1 Live: JSW Cement, which is a part of the diverse JSW Group, is set to launch its initial public offering (IPO) valued at ₹3,600 crore on August 7. JSW Cement IPO price band has been established in the range of ₹139-147 per share, which places the 17-year-old company’s valuation at ₹20,000 crore if priced at the upper limit.
JSW Cement IPO consists of a fresh issuance of shares worth ₹1,600 crore and ₹2,000 crore of shares being offered for sale by existing shareholders, and will be available for subscription from August 7 to August 11.
In the Offer for Sale (OFS) of JSW Cement IPO, private equity firm Apollo Management, through its affiliate AP Asia Opportunistic Holdings Pte Ltd, along with Synergy Metals Investments Holding Ltd and the State Bank of India (SBI), will divest their shares.
Synergy Metals Investments Holding is a branch of Synergy Metals and Mining Fund, a private equity fund launched in 2015 by Sudhir Maheshwari, a former executive at steel producer ArcelorMittal.
JSW Cement IPO plans to allocate ₹800 crore from the proceeds to help finance a new integrated cement facility in Nagaur, Rajasthan, with ₹520 crore designated for debt repayment, and the remaining amount for general corporate needs.
JSW Cement IPO process is being managed by a consortium including JM Financial Ltd, Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd, DAM Capital Advisors Ltd, Goldman Sachs (India) Securities Pvt Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd, and SBI Capital Markets Ltd.
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