JSW Cement was incorporated on March 29, 2006. It is a green cement products company with a current capacity of 20.60 MMTPA. The company is a part of JSW Group, a multinational conglomerate with a portfolio of diversified businesses across various sectors such as steel, energy, maritime, infrastructure, defence, business-to-business e-commerce, realty, paints, sports, and venture capital.
| Bidding Dates |
|---|
| 07 Aug 2025 - 11 Aug 2025 |
| Subscription |
|---|
| 7.77x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,178 | 1 | 13 | 102 | 244.9 M | ₹139 - ₹147 | 72.33 % | ₹34040.8 M - ₹36000.0 M | RHP DOC |
JSW Cement IPO SUBSCRIPTION STATUS
11 Aug '25JSW Cement IPO overall subscription rate was 7.77 times the total available shares
JSW Cement IPO retail subscription rate was 1.81 times in the retail segment
JSW Cement IPO non-institutional investor subscription rate was 10.97 times in the non-institutional investor category
JSW Cement IPO Qualified Institutional Bidder subscription rate was 15.8 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
11 Aug 2025 (Day 3) | 1.81x | 10.97x | 15.8x |
08 Aug 2025 (Day 2) | 0.72x | 0.62x | 0.24x |
07 Aug 2025 (Day 1) | 0.36x | 0.2x | 0.23x |
JSW Cement FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 5,813.1 | -163.8 | 736.7 | -409.4 | 14.9% |
| FY24 | 6,028.1 | 62.0 | 1,407.7 | 475.5 | 18.2% |
| FY23 | 5,836.7 | 104.0 | 653.2 | -979.3 | 14.0% |
JSW Cement IPO SUBSCRIPTION STATUS DETAILS
JSW Cement had 244.9 M shares on offer
JSW Cement IPO offer price was in the range ₹139 - ₹147
JSW Cement IPO minimum Investment was ₹14178
JSW Cement IPO issue size was ₹ 34040.8 M - ₹ 36000.0 M
JSW Cement had a minimum lot size of 102 Shares per application
JSW Cement NUMBER OF SHARES ON OFFER
JSW Cement IPO IMPORTANT DATES
| Issue Open Date | 07 Aug 2025 |
| Issue close Date | 11 Aug 2025 |
| Allotment Date | 12 Aug 2025 |
| Refund Date | 13 Aug 2025 |
| Demat Account Credit Date | 13 Aug 2025 |
| Listing Date | 14 Aug 2025 |
| Listing on Exchange(s) | NSE and BSE |
| JSW Cement Allotment Status | Exchange/ Registrar |
JSW Cement IPO subscription opened on 07 Aug 2025, and closed on 11 Aug 2025
IPO allotment for JSW Cement was finalized on Tuesday, 12 Aug 2025
IPO listing for JSW Cement was on NSE and BSE on Thursday, 14 Aug 2025
JSW Cement IPO LISTING GAINS
| Issue Price (adjusted) | 147.0 |
| Listing Open Price | 153.5 |
| Listing Close Price | 146.1 |
| Listing Gain% | 4.4% |
| Current Gain% | -8.7% |
JSW Cement Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JSW Cement Ltd. | 134.3 | 18308.6 | -24.2 | 0 | 2.8 | -11.5 | -5.2 | 6664.9 | 12.7 | -756.3 | -562.9 | -5.5 | -562.9 |
| UltraTech Cement Ltd. | 12105 | 356709.2 | 41.8 | 1.9 | 3.9 | 10.6 | 5.8 | 89089 | 16.2 | 8165.6 | 35.2 | 289.8 | 22.1 |
| Grasim Industries Ltd. | 3323 | 226137.2 | 45.5 | 1.9 | 1.3 | 4.8 | 0.9 | 176610.9 | 17.8 | 4966.5 | 34 | 73 | 24.4 |
| Ambuja Cements Ltd. | 434 | 107277.1 | 24.5 | 17.3 | 2.7 | 8 | 5.3 | 41490 | 10.1 | 4728.2 | 13.5 | 17.7 | 1.4 |
| Shree Cements Ltd. | 26010 | 93845.9 | 57.6 | 6 | 4.3 | 7.5 | 5.5 | 21604.3 | 8.7 | 1743.6 | 55.3 | 451.8 | 9.6 |
| JK Cement Ltd. | 5379.5 | 41566.5 | 44 | -8 | 2.9 | 14.1 | 5.4 | 13916.8 | 15.5 | 992.5 | 15.3 | 122.4 | -5.5 |
JSW Cement INFORMATION ON IPO ISSUE
About JSW Cement
JSW Cement was incorporated on March 29, 2006. It is a green cement products company with a current capacity of 20.60 MMTPA. The company is a part of JSW Group, a multinational conglomerate with a portfolio of diversified businesses across various sectors such as steel, energy, maritime, infrastructure, defence, business-to-business e-commerce, realty, paints, sports, and venture capital.
Object of the Issue
- Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan.
- Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company.
- General corporate purposes.
JSW Cement - PROMOTERS
| Name |
|---|
| Sajjan Jindal |
| Parth Jindal |
| Sangita Jindal |
| Adarsh Advisory Services Private Limited |
JSW Cement - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Seshagiri Rao Venkata Satya Metlapalli | Chairman & Non-Executive Director |
| Parth Jindal | Managing Director |
| Nilesh Narwekar | Whole-Time Director & Chief Executive Officer |
| Narinder Singh Kahlon | Director – Finance & Commercial & Chief Financial Officer |
| Kantilal Narandas Patel | Non-Executive Non-Independent Director |
| Utsav Baijal | Non-Executive Nominee Director |
| Sudhir Maheshwari | Non-Executive Nominee Director |
| Pankaj Rajabhau Kulkarni | Independent Director |
| Sutapa Banerjee | Independent Director |
| Sumit Banerjee | Independent Director |
| Akshay Chudasama | Independent Director |
| Aashish Kamat | Independent Director |
| Raghav Chandra | Independent Director |
| Preeti Reddy | Independent Director |
JSW Cement Book running lead manager
JM Financial Limited
jswcement.ipo@jmfl.com
Axis Capital Limited
jswcement.ipo@axiscap.in
Citigroup Global Markets India Private Limited
jswcementipo@citi.com
DAM Capital Advisors Limited
jswcement.ipo@damcapital.in
Goldman Sachs (India) Securities Private Limited
jswcementipo@gs.com
Jefferies India Private Limited
JSW.Cement.IPO@jefferies.com
Kotak Mahindra Capital Company Limited
jswcement.ipo@kotak.com
SBI Capital Markets Limited
swcement.ipo@sbicaps.com
JSW Cement Registrar to the Offer
KFin Technologies Limited
jswcement.ipo@kfintech.com
JSW Cement Strengths
Fastest growing cement manufacturing company
In terms of increase in installed grinding capacity and sales volume from FY14-24, the company comes among the top 10 cement manufacturing companies in terms of installed capacity, according to a CRISIL Report
Largest manufacturer of GGBS
The company is India’s single largest manufacturer of GGBS (Ground Granulated Blast Furnace Slag), with a market share in terms of GGBS sales of 82.7% in FY24, according to a CRISIL Report
Strategically located plants
In each region, the company's plants are well connected by road and/or rail to their respective raw material sources and key consumption markets
JSW Cement Risks
Significantly dependent on JSW Steel
The company is significantly dependent on JSW Steel and its subsidiaries, for the supply of blast furnace slag (90.93% of total blast furnace slag consumed in FY24), which is a key additive raw material used for manufacturing green cementitious products such as ground granulated blast furnace slag and blended cement
Show cause notice
The Securities and Exchange Board of India has issued a show cause notice to one of the company's promoters, Sajjan Jindal and certain members of the promoter group, among others, under the provisions of the Securities and Exchange Board of India Act, 1992. Any adverse outcome in relation to such show cause notices, may impact company's reputation
Depend on road & railway network
The company relies on India's road and rail network for transporting raw materials and products. Any delays or poor connectivity could negatively impact operations and business performance
IPO FAQs
This IPO consists of an offer for sale of up to Rs 2,000.0 crore, of 136,054,421 shares. It also consists of a fresh issue of Rs 1,600.0 crore.
The promoters of the company are Sajjan Jindal, Parth Jindal, Sangita Jindal and Adarsh Advisory Services Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 139.0 - 147.0.
The IPO application opens on Aug 07, 2025 and closes on Aug 11, 2025.
The minimum lot size for the IPO is 102. The maximum lot size for the IPO is 1326.
For all category investors, the minimum application amount for this IPO is Rs. 14,178.0, the maximum value for this IPO is Rs 194,922.0.
This IPO will be allotted on Aug 12, 2025.
The refund will be credited to your account on Aug 13, 2025.
The allotted shares will be credited to your demat on Aug 13, 2025.
JSW Cement Ltd.’s shares listed on the stock exchanges on Aug 14, 2025.