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JSW Cement applied to Sebi for IPO of Rs 4000 crore, know the details – AnyTV News

by Aaryan Srivastav
August 16, 2024
JSW Cement applied to Sebi for IPO of Rs 4000 crore, know the details - India TV Hindi


Photo:REUTERS JSW Cement

JSW Cement on Friday filed preliminary documents with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 4,000 crore through an initial public offering (IPO). According to the IPO documents (DRHP), the IPO includes a fresh issue of equity shares worth Rs 2,000 crore. Apart from this, existing shareholders will bring a sale offer (OFS) of Rs 2,000 crore. The amount of Rs 800 crore raised from the new issue will be used to set up a new integrated cement unit in Nagaur, Rajasthan. Apart from this, an amount of Rs 720 crore will be used to repay the loan. The remaining amount will be used for general corporate purposes.

Water capacity is this much in 4 years

JSW Cement currently has presence in South, East and West India. The company plans to increase the capacity of its cement business from 20.60 MTPA to 60 million tonnes per annum in 4 years. The company wants to expand its business in the markets of North and Central India.

Three businesses are already listed

JSW Group had earlier said that it would list its cement unit in the year 2024. The group’s energy, ports and steel are already listed businesses. In the port vertical, JSW Infrastructure was listed some time back. In August last year, JSW Group heir and JSW Cement Managing Director Parth Jindal shared the listing plans for 2024 and said that the capital raised from the IPO would help the group reach its target of 60 million tonnes of capacity.

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