New Delhi, August 7, 2025 — JSW Cement Limited, a part of the diversified JSW Group, is set to launch its Initial Public Offering (IPO) on Thursday, August 7, 2025. The IPO will remain open for subscription until Monday, August 11, 2025.
The price band for the offer has been fixed at ₹139 to ₹147 per equity share, each having a face value of ₹10. Investors can bid for a minimum of 102 shares and in multiples thereafter.
The IPO comprises a fresh issue of equity shares aggregating up to ₹1,600 crore and an Offer for Sale (OFS) by existing shareholders amounting up to ₹2,000 crore. Proceeds from the fresh issue will be utilised for setting up a new cement plant in Nagaur, Rajasthan (₹800 crore), repayment or prepayment of certain borrowings (up to ₹520 crore), and general corporate purposes.
JSW Cement is among the fastest-growing cement companies in India, according to a CRISIL report, ranking in the top three in terms of grinding capacity and sales volume growth between 2015 and 2025. As of March 31, 2025, it also ranks among the top 10 cement companies in India by installed capacity and sales.
The company is India’s largest manufacturer of Ground Granulated Blast Furnace Slag (GGBS), a sustainable cementitious product derived from steel production slag. In FY2025, JSW Cement held an 84% market share in GGBS sales, as per CRISIL data.
Its product portfolio includes blended cements (PSC, PCC, PPC), Ordinary Portland Cement (OPC), GGBS, clinker, ready-mix concrete (RMC), screened slag, construction chemicals, and waterproofing compounds. The company operates seven plants across India, including one integrated unit, one clinker unit, and five grinding units, located in Andhra Pradesh (Nandyal), Karnataka (Vijayanagar), Tamil Nadu (Salem), Maharashtra (Dolvi), West Bengal (Salboni), and Odisha (Jajpur and Shiva Cement’s clinker unit).
JSW Cement also boasts one of the lowest carbon emissions per tonne of cement produced, positioning it as a sustainability leader in the cement industry globally.
The company has built a strong distribution network, with 4,653 dealers, 8,844 sub-dealers, and 158 warehouses as of March 31, 2025.
The IPO is being brought through the book-building process. Up to 50% of the issue will be allocated to Qualified Institutional Buyers (QIBs), at least 15% to Non-Institutional Investors (NIIs), and at least 35% to Retail Individual Investors (RIIs).
Book Running Lead Managers:
JM Financial, Axis Capital, Citigroup Global Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital, and SBI Capital Markets.
Registrar: KFin Technologies Limited
