JSW Cement, the cement arm of the Sajjan Jindal-led JSW Group, has filed its IPO with the Securities and Exchange Board of India to mop up Rs 4,000 crore. This IPO is going to be carried out through a fresh issue of equity shares worth Rs 2,000 crore and an offer for sale of equity shares worth Rs 2,000 cr by existing shareholders, which includes AP Asia Opportunistic Holdings Pte, Synergy Metals Investments Holding, and the State Bank of India.
The fresh issue proceeds, an integrated cement plant at Nagaur in Rajasthan would be set up with an outlay of Rs 800 crore, while Rs 720 crore would be used for debt repayment. The rest would be for general corporate purposes.
JSW Cement now plans augmentation of installed grinding capacity from 20.60 MMTPA to 40.85 MMTPA and clinker capacity from 6.44 MMTPA to 13.04 MMTPA with seven plants across the country. Company posted a fall in profits in FY24; however, it saw a spike in its EBITDA by 36.9 per cent on account of a rise of 3.3 per cent in revenues to Rs 6,028.1 crore.
This IPO is the second public issue in recent times from the JSW Group, for which JSW Infrastructure made a successful public issue in October 2023.
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Source: Moneycontrol
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