JSW Cement IPO: The initial public offer (IPO) of JSW Cement closed for subscription on Monday, August 11, amid strong bids from qualified institutional buyers (QIBs) and non-institutional investors (NIIs).
The offer by the cement arm of JSW Group opened for subscription on August 7, aiming to raise ₹3,600 crore.
JSW Cement IPO Subscription Status
JSW Cement IPO received bids for 1,40,91,39,588 shares, as against 18,12,94,964 shares on offer, taking the total subscription status to 7.77 times.
The QIB quota was booked the most at 15.80 times, followed by the NII quota at 10.97 times and the retail quota at 1.81 times.
Now, with the closure of the offer, investor focus will shift to the JSW Cement IPO allotment, which is expected to be finalised tomorrow, August 12. Meanwhile, JSW Cement IPO will list on BSE and NSE, with a tentative listing date fixed as August 14.
JSW Cement IPO GMP
The grey market premium (GMP) trend for the cement maker was muted. On Monday, the JSW Cement IPO GMP was ₹5.5. This means that JSW Cement shares are trading ₹5.5 above the issue price in the grey market.
At the prevailing GMP and the upper end of the price band of ₹147, JSW Cement IPO listing price could be ₹15.25, up 3.74%.
JSW Cement IPO Details
The issue was a mix of a fresh issue of RS 1,600 crore and an offer for sale of ₹2,000 crore. Investors could apply for JSW Cement IPO in the price band of ₹139 to RS 147 per share.
The lot size of JSW Cement IPO is 102 shares, requiring an investment of at least ₹14,718 by the retail investors.
JSW Cement plans to use the fresh proceeds from the IPO for establishing a new integrated cement unit in Nagaur, Rajasthan, repayment of certain borrowings availed by the company and for general corporate purposes.
JSW Cement is among the fastest-growing cement manufacturers in the country and the largest producer of Ground Granulated Blast Furnace Slag (GGBS) with an 84% market share in FY25.
In FY25, JSW Cement sold 7.09 million tons of cement and 5.2 million tons of GGBS. Grinding capacity utilisation stood at 63% and clinker utilisation at 84%, driven by operational efficiencies from renewable energy adoption, waste heat recovery systems, and freight optimisation.
Many brokerages had recommended subscribing to the public offer, including Lakshmishree Investment, Canara Bank Securities and Ventura.
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