JSW Cement Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹139 - ₹147
- Lot size
- 102 shares
- Issue amount
- ₹3,600 cr
- Total subscription
- 8.22×
- Opens
- 7 Aug 2025
- Closes
- 11 Aug 2025
- Allotment
- 12 Aug 2025
- Listing
- 14 Aug 2025
Offer at a glance
Issue overview
- Issue size
- 24,48,97,959 shares
- Face value
- NA
- Minimum investment
- ₹14,178
- Fresh issue
- ₹1,600 cr
- Offer for sale
- ₹2,000 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,994
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,25,45,21,399
- Shares after issue
- 1,36,33,64,936
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 102 | ₹14,994 |
| sHNI | 14 | 1,428 | ₹2,09,916 |
| bHNI | 67 | 6,834 | ₹10,04,598 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 8,40,336 | 11,39,435 |
| HNIs(10L +) | 17,150 | 46,791 |
| HNIs (2-10L) | 8,575 | 67,204 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 720 | 12,034.16 |
| RETAIL | 1,260 | 2,415.41 |
| HNIs 2+ | 180 | 1,484.73 |
| HNIs 10+ | 360 | 4,782.71 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | -1.16 | 0.91 | 1.39 |
| ROE | -6.9 | 2.6 | 4.64 |
| ROCE | -0.31 | 4.82 | 6.19 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | -112.61 | 0 | 0 |
| POST IPO(PE) | -122.38 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Founded in 2006, JSW Cement Limited is a leading green cement manufacturer in India and a part of the well-known JSW Group. The company is committed to sustainability and innovation in the cement industry. Its product range includes eco-friendly options such as Portland Slag Cement (PSC), Ground Granulated Blast Furnace Slag (GGBS), and Composite Cement, all designed to provide strength while supporting sustainable construction practices. JSW Cement operates seven manufacturing units across India, which include one fully integrated plant, one clinker production unit, and five grinding facilities. These are located in Nandyal (Andhra Pradesh), Vijayanagar (Karnataka), Salem (Tamil Nadu), Dolvi (Maharashtra), Salboni (West Bengal), Jajpur (Odisha), and the clinker unit of Shiva Cement Limited, which is majority-owned by the company. As of March 31, 2024, the total installed grinding capacity stood at 20.60 million metric tonnes per annum (MMTPA), with capacities spread across South (11.00 MMTPA), West (4.50 MMTPA), and East (5.10 MMTPA) India. To support its operations, JSW Cement has built a strong distribution network that includes over 5,000 dealers, more than 10,000 sub-dealers, and 164 warehouses nationwide as of March 2024.
Strengths
- Fast Business Growth: One of India’s fastest-growing cement makers in capacity and sales.
- GGBS Market Leader: Biggest GGBS producer in India with strong expansion history.
- Smart Plant Locations: Plants are close to raw materials and key markets, saving costs and improving reach.
Risk factors
- Limestone Access Risk: Shortage or high cost of limestone can hurt operations and profits.
- Energy Supply Risk: Lack of power or fuel can slow down production and reduce efficiency.
- Low Capacity Use Risk: Underused plants may limit growth and impact financial results.
Promoters
Sajjan Jindal
Parth Jindal
Sangita Jindal
Adarsh Advisory Services Private Limited
Sajjan Jindal Family Trust
Registrar & documents
Lead manager
Axis Capital Limited, Citigroup Global Markets India Private Limited, Dam Capital Advisors Limited, Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
JSW Centre, Bandra Kurla Complex, Bandra (East), Mumbai 400051, Maharashtra, India Mumbai, Maharashtra
+91 22 4286 3115
[email protected]Company website ↗Understanding JSWCEMENT IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.