Overview
- JSW Cement’s ₹3,600 crore IPO reached 32% subscription on its second day of bidding.
- Retail investors applied for 43% of their allocation, while qualified institutions and non-institutional buyers subscribed at 23% and 24% respectively.
- Shares are priced between ₹139 and ₹147, valuing the company at about ₹20,000 crore and reflecting a ₹13 grey market premium.
- Proceeds include ₹800 crore for a new Nagaur cement plant, ₹520 crore for debt repayment and the remainder for general corporate purposes, with allotment on August 12 and listing on August 14.
- Anchor commitments of ₹1,080 crore were secured before the public offer, underscoring investor backing for JSW Cement’s expansion and green-cement strategy.