JSW Cement initial public offering (IPO) opened for subscription on August 7 and will remain open till August 11. The mainboard IPO has been subscribed over 0.56 times so far.
Around 50 per cent of the shares are allocated for qualified institutional buyers (QIBs), at least 15 per cent for non-institutional investors (NIIs), and a minimum of 35 per cent of the offer is set aside for retail investors.
Established in 2009, JSW Cement is one of the three fastest-growing cement producers in India based on installed grinding capacity and sales volume from FY2015 to FY2025. According to CRISIL, the company ranks among the top 10 cement manufacturers in the country in terms of installed capacity and sales volume as of March 31, 2025.
JSW Cement IPO subscription status
By the end of the second day, the JSW Cement IPO was subscribed 56 per cent overall, with the retail quota booked 72 per cent, the NII segment at 62 per cent, and the QIB category at 24 per cent.
On day one, the issue saw an overall subscription of 32 per cent, with the retail portion subscribed 41 per cent, the NII segment at 23 per cent, and QIBs also receiving 23 per cent of bids.
JSW Cement IPO GMP
The shares of JSW Cement IPO is currently trading at +9.5 in the grey market, as per market observers. This means that the grey market premium (GMP) of JSW Cement IPO is ₹9.5.
According to investorgain, the estimated listing price of JSW Cement IPO is likely to be ₹156.5, which is 6.46 per cent higher than the IPO price of ₹147.
According to the grey market trends observed in the past seven sessions, the IPO GMP is currently rising and is anticipated to have a robust debut. The minimum GMP recorded is ₹0.00, whereas the maximum GMP is ₹19, as per the insights from investorgain.com experts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
JSW Cement IPO details
The company has set a price band of ₹139–147 per share, valuing the 17-year-old firm at about ₹20,000 crore at the upper end.
The JSW Cement IPO comprises a fresh issue worth ₹1,600 crore and an Offer-For-Sale (OFS) of ₹2,000 crore by existing shareholders, and will remain open until August 11.
Under the OFS, Apollo Management (via its affiliate AP Asia Opportunistic Holdings Pte Ltd), Synergy Metals Investments Holding Ltd, and the State Bank of India (SBI) will divest their stakes.
From the IPO proceeds, ₹800 crore will go towards partially funding a new integrated cement plant in Nagaur, Rajasthan, ₹520 crore will be used for debt repayment, and the balance will be set aside for general corporate purposes.
JSW Cement IPO – Review
According to Rajan Shinde, Research Analyst, Mehta Equities Ltd, with robust backward integration through JSW Group synergies (JSW Steel, JSW Energy), strategically located plants, strong distribution backed by digital tools, and long-term raw material contracts, we believe company is well-positioned to benefit from rising demand for sustainable infrastructure.
“Hence, looking at all attributes we recommend only risk averse investors seeking exposure to ESG-aligned growth in the cement space to “SUBSCRIBE” the JSW Cement Ltd IPO for long-term perspective only,” said Shinde.
Meanwhile, AUM Capital recommended ‘subscribe to the issue’. It said “JSW Cement is one of the fastest growing cement manufacturing companies in India in terms of installed grinding capacity and sales volume. Being the largest producer of Ground Granulated Blast Furnace Slag (GGBS) gives it a competitive advantage. Strong branding of JSW Group as a whole is an added advantage in terms of financial flexibility and operational synergies.”
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
