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JSW Cement IPO is a book build issue of ₹3,600.00 crores. The issue is a combination of fresh issue of 10.88 crore shares aggregating to ₹1,600.00 crores and offer for sale of 13.61 crore shares aggregating to ₹2,000.00 crores.
JSW Cement IPO bidding started from Aug 7, 2025 and ended on Aug 11, 2025. The allotment for JSW Cement IPO was finalized on Aug 12, 2025. The shares got listed on BSE, NSE on Aug 14, 2025.
JSW Cement IPO price band is set at ₹147.00 per share . The lot size for an application is 102. The minimum amount of investment required by an retail is ₹14,178 (102 shares). The lot size investment for sNII is 14 lots (1,428 shares), amounting to ₹2,09,916, and for bNII, it is 67 lots (6,834 shares), amounting to ₹10,04,598.
JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to JSW Cement IPO RHP for detailed Information.
| IPO Date | August 7, 2025 to August 11, 2025 |
| Listing Date | August 14, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹139 to ₹147 per share |
| Issue Price Final | ₹147 per share |
| Lot Size | 102 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 24,48,97,958 shares (aggregating up to ₹3,600.00 Cr) |
| Fresh Issue | 10,88,43,537 shares (aggregating up to ₹1,600.00 Cr) |
| Offer for Sale | 13,60,54,421 shares of ₹10 (aggregating up to ₹2,000.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,25,45,21,399 shares |
| Share Holding Post Issue | 1,36,33,64,936 shares |
JSW Cement IPO offers total 24,48,97,958 shares. Out of which 12,24,48,978 (50.00%) allocated to QIB, 4,89,79,592 (20.00%) allocated to QIB (Ex- Anchor), 3,67,34,694 (15.00%) allocated to NII, 8,57,14,286 (35.00%) allocated to RII and 7,34,69,386 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 12,24,48,978 (50.00%) | NA |
| − Anchor Investor Shares Offered | 7,34,69,386 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 4,89,79,592 (20.00%) | NA |
| NII (HNI) Shares Offered | 3,67,34,694 (15.00%) | NA |
| − bNII > ₹10L | 2,44,89,796 (10.00%) | 17,149 |
| − sNII < ₹10L | 1,22,44,898 (5.00%) | 8,574 |
| Retail Shares Offered | 8,57,14,286 (35.00%) | 8,40,336 |
| Total Shares Offered | 24,48,97,958 (100.00%) |
JSW Cement IPO raises ₹1,080.00 crore from anchor investors. JSW Cement IPO Anchor bid date is August 6, 2025. JSW Cement IPO Anchor Investors list
| Bid Date | August 6, 2025 |
| Shares Offered | 7,34,69,386 |
| Anchor Portion Size (In Cr.) | 1,080.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 10, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 9, 2025 |
JSW Cement IPO opens on August 7, 2025, and closes on August 11, 2025.
| IPO Open Date | Thu, Aug 7, 2025 |
| IPO Close Date | Mon, Aug 11, 2025 |
| Tentative Allotment | Tue, Aug 12, 2025 |
| Initiation of Refunds | Wed, Aug 13, 2025 |
| Credit of Shares to Demat | Wed, Aug 13, 2025 |
| Tentative Listing Date | Thu, Aug 14, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Aug 11, 2025 |
Investors can bid for a minimum of 102 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 102 | ₹14,994 |
| Retail (Max) | 13 | 1,326 | ₹1,94,922 |
| S-HNI (Min) | 14 | 1,428 | ₹2,09,916 |
| S-HNI (Max) | 66 | 6,732 | ₹9,89,604 |
| B-HNI (Min) | 67 | 6,834 | ₹10,04,598 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2006, JSW Cement Limited is a manufacturer of green cement in India. As part of the JSW Group, the company is committed to sustainability and innovation in the cement industry.
The company operated seven plants across the country, including one integrated unit, one clinker unit, and five grinding units located in Andhra Pradesh (Nandyal plant), Karnataka (Vijayanagar plant), Tamil Nadu (Salem plant), Maharashtra (Dolvi plant), West Bengal (Salboni plant), and Odisha (Jajpur plant and the majority-owned Shiva Cement Limited clinker unit).
As of March 31, 2025, JSW Cement Limited had an installed grinding capacity of 20.60 MMTPA, comprising 11.00 MMTPA in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region of India.
Product Portfolio:
JSW Cement Limited distributes its products through a well-connected network. As of March 31, 2025, the company had a distribution network comprising 4,653 dealers, 8,844 sub-dealers, and 158 warehouses.
Competitive Strengths:
JSW Cement Ltd.'s revenue decreased by 3% and profit after tax (PAT) dropped by 364% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 12,003.94 | 11,318.91 | 10,218.61 |
| Total Income | 5,914.67 | 6,114.60 | 5,982.21 |
| Profit After Tax | -163.77 | 62.01 | 104.04 |
| EBITDA | 815.32 | 1,035.66 | 826.97 |
| Net Worth | 2,352.55 | 2,464.68 | 2,292.10 |
| Reserves and Surplus | 1,287.31 | 1,399.06 | 1,296.66 |
| Total Borrowing | 6,166.55 | 5,835.76 | 5,421.54 |
| Amount in ₹ Crore | |||
The market capitalization of JSW Cement IPO is ₹20041.46 Cr.
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | -6.90 |
| ROCE | 7.05% |
| Debt/Equity | 0.98 |
| RoNW | -4.85% |
| PAT Margin | -2.77% |
| EBITDA Margin | 13.78% |
| Price to Book Value | 6.16 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | -1.31 | -1.20 |
| P/E (x) | -112.61 | -122.38 |
The Company JSW Cement IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan | 800.00 |
| 2 | Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company | 520.00 |
| 3 | General Corporate Purposes | 226.80 |
[Dilip Davda] JCL is a JSW group’s cement manufacturing arm, and is one of the top three fastest growing company in India. After profitable performance for FY23 and FY24, it marked heavy loss for FY25, that raises major concern. It is setting up a new unit at Nagaur-Rajasthan that will add to its top and bottom lines going forward. Based on its recent financial data, the issue appears aggressively priced. Being a pure long-term story, only will-informed/cash surplus investors may park moderate funds for long term. Read detail review...
| Listing Date | August 14, 2025 |
| BSE Script Code | 544480 |
| NSE Symbol | JSWCEMENT |
| ISIN | INE718I01012 |
| Final Issue Price | ₹147 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
JSW Cement Ltd.
JSW Centre,
Bandra Kurla Complex,
Bandra (East),
Mumbai, Maharashtra, 400051
Phone: +91 22 4286 3114
Email: secretarial.jswcl@jsw.in
Website: http://www.jswcement.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: jswcement.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Lead Manager Reports
JSW Cement IPO is a main-board IPO of 24,48,97,958 equity shares of the face value of ₹10 aggregating up to ₹3,600.00 Crores. The issue is priced at ₹147 per share. The minimum order quantity is 102.
The IPO opens on August 7, 2025, and closes on August 11, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in JSW Cement IPO using UPI as a payment gateway. Zerodha customers can apply in JSW Cement IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in JSW Cement IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The JSW Cement IPO opens on August 7, 2025 and closes on August 11, 2025.
JSW Cement IPO lot size is 102, and the minimum amount required for application is ₹14,994.
You can apply in JSW Cement IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for JSW Cement IPO will be done on Tuesday, August 12, 2025, and the allotted shares will be credited to your demat account by Wednesday, August 13, 2025. Check the JSW Cement IPO allotment status.
The JSW Cement IPO listing date is on Thursday, August 14, 2025.
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