JSW Cement Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 122,448,978 (50%) | — | ₹180,000 Cr |
| NII (HNI) | — | 36,734,694 (15%) | — | ₹54,000 Cr |
| Retail | — | 85,714,286 (35%) | — | ₹126,000 Cr |
| Σ Total | — | 244,897,958 (100%) | — | ₹3,600,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 102 | ₹14,994 |
| Retail (Max) | 13 | 1,326 | ₹194,922 |
| S-HNI (Min) | 14 | 1,428 | ₹209,916 |
| B-HNI (Min) | 67 | 6,834 | ₹1,004,598 |
Financial Statements Amount in Crore
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Revenue | 5,915 | 6,115 | 5,982 |
| EBITDA | 815 | 1,036 | 827 |
| Profit After Tax | -164 | 62 | 104 |
| Net Worth | 2,353 | 2,465 | 2,292 |
| Total Assets | 12,004 | 11,319 | 10,219 |
| Reserves & Surplus | 1,287 | 1,399 | 1,297 |
| Total Borrowing | 6,167 | 5,836 | 5,422 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan – 800.00
- 2 Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company – 520.00
- 3 General Corporate Purposes – 226.80
Company Overview
Incorporated in 2006, JSW Cement Limited is a manufacturer of green cement in India. As part of the JSW Group, the company is committed to sustainability and innovation in the cement industry.
The company operated seven plants across the country, including one integrated unit, one clinker unit, and five grinding units located in Andhra Pradesh (Nandyal plant), Karnataka (Vijayanagar plant), Tamil Nadu (Salem plant), Maharashtra (Dolvi plant), West Bengal (Salboni plant), and Odisha (Jajpur plant and the majority-owned Shiva Cement Limited clinker unit).
As of March 31, 2025, JSW Cement Limited had an installed grinding capacity of 20.60 MMTPA, comprising 11.00 MMTPA in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region of India.
Product Portfolio:
- Cement: Blended Cement and Ordinary Portland Cement
- Ground Granulated Blast Furnace Slag: GGBS is commonly used in blended cement products such as PSC and PCC and as a replacement material for OPC in concrete production.
- Clinker: Clinker is manufactured by burning limestone and clay together at a high temperature
- Allied Cementitious Products: RMC, Screened Slag, Construction Chemicals
JSW Cement Limited distributes its products through a well-connected network. As of March 31, 2025, the company had a distribution network comprising 4,653 dealers, 8,844 sub-dealers, and 158 warehouses.
Competitive Strengths:
- The company is the fastest growing cement manufacturing company in India in terms of increase in installed grinding capacity and sales volume.
- The company is India’s largest manufacturer of GGBS and has a proven track record of scaling up this business.
- Strategically located plants well-connected to raw material sources and key consumption markets.
- The company has lowest carbon dioxide emission intensity among our peer cement manufacturing companies and the top global cement manufacturing companies.
- Extensive sales and distribution network in India and focus on strong brand.
- The company benefits from its strong corporate lineage of the JSW Group and its qualified management team.