Key Highlights
- JSW Cement initiates roadshow for ₹4,000 crore IPO, targeting July listing in Mumbai.
- Proceeds will fund a new cement plant in Nagaur, Rajasthan, and reduce existing debt.
According to market sources, JSW Cement is preparing for a promotional roadshow for its upcoming initial public offering (IPO), which is expected to be listed in July 2025.
In a market increasingly dominated by UltraTech Cement Ltd. and the Adani Group, the listing is anticipated to help JSW Cement improve its financial standing and compete more successfully.
In order to gauge interest and valuation, JSW Cement has contacted institutional investors. The company hopes to raise about Rs4,000 crore from investors.
Sources claim that specifics like the duration and scope of the problem are being discussed and could change.
According to the company's August 2024 draft red herring prospectus (DRHP), JSW Cement intends to use the funds raised from upcoming initial public offerings (IPOs) to repay loans and construct a new cement plant in Nagaur, in northwest Rajasthan.
The Nagaur cement plant of JSW Cement will have an 18 MW waste heat recovery-based power plant, a 2.50 MTPA grinding unit, and a 3.30 MTPA clinkerization unit. Along with plans to use alternative fuel in the kiln, the investment also includes a roughly 7-kilometer-long Overland Belt Conveyor to move limestone from the mines to the manufacturing facility.
Also Read: JSW Cement Plans to Invest Rs 3,000 crore for a New Factory in Rajasthan
The business had previously declared that a mix of long-term debt and equity would finance its planned investment in the plant.
It may be recalled that JSW Cement received approval from the Securities and Exchange Board of India (SEBI) to raise Rs 4,000 crore through an initial public offering in January 2025.
