Allotment

The JSW Cement IPO is a book-built issue aggregating to ₹3,600.00 crore, comprising a fresh issue of 10.88 crore equity shares amounting to ₹1,600.00 crore and an offer for sale of 13.61 crore equity shares aggregating to ₹2,000.00 crore.
The IPO opened for subscription on August 7, 2025, and closed on August 11, 2025. The basis of allotment was finalized on August 12, 2025, and the equity shares were listed on the BSE and NSE on August 14, 2025.
The price band for the IPO was fixed at ₹147 per share, with a lot size of 102 shares. The minimum investment required for retail investors was ₹14,178 (102 shares). For small non-institutional investors (sNII), the minimum application size was 14 lots (1,428 shares) amounting to ₹2,09,916, while for big non-institutional investors (bNII), it was 67 lots (6,834 shares) amounting to ₹10,04,598.
JM Financial Ltd. acted as the book-running lead manager, and Kfin Technologies Ltd. was the registrar to the issue.
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| IPO Date | 14 Aug |
| IPO Listing Date | 14 Aug |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹147.00 |
| IPO Issue Size | 24,48,97,958 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Bookbuilding IPO |
| IPO Listing | BSE, NSE Platform |
| hare Holding Pre Issue | 1,25,45,21,399 |
| IPO Open Date | 7 Aug |
| IPO Close Date | 11 Aug |
| IPO Allotment (Tentative) | 12 Aug |
| Refunds | 13 Aug |
| Credit to Demat Account | 13 Aug |
| IPO Listing Date | 14 Aug |
| Category | Offer |
|---|---|
| QIB Shares Offered | 12,24,48,978 Shares |
| NII (HNI) Shares Offered | 3,67,34,694 Shares |
| Retail Shares Offered | 8,57,14,286 Shares |
Investors may bid for a minimum of 102 shares, in multiples of 102.
| Application | Lots | Share | 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 |
Incorporated in 2006, JSW Cement Limited is an Indian manufacturer of green cement and a part of the JSW Group, with a strong focus on sustainability and innovation in the cement industry.
The company operates seven manufacturing facilities across India, comprising one integrated unit, one clinker unit, and five grinding units. These facilities are located in Andhra Pradesh (Nandyal), Karnataka (Vijayanagar), Tamil Nadu (Salem), Maharashtra (Dolvi), West Bengal (Salboni), and Odisha (Jajpur 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 million metric tonnes per annum (MMTPA), with 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
Cement: Blended cement and Ordinary Portland Cement (OPC)
Ground Granulated Blast Furnace Slag (GGBS): Used in blended cement products such as PSC and PCC, and as a replacement for OPC in concrete production
Clinker: Manufactured by burning limestone and clay at high temperatures
Allied Cementitious Products: Ready-mix concrete (RMC), screened slag, and construction chemicals
JSW Cement Limited distributes its products through a well-established network. As of March 31, 2025, the company’s distribution network comprised 4,653 dealers, 8,844 sub-dealers, and 158 warehouses across India.
Competitive Strengths
Fastest-growing cement manufacturer in India in terms of increase in installed grinding capacity and sales volume
India’s largest manufacturer of GGBS with a proven track record of scaling the business
Strategically located plants with strong connectivity to raw material sources and key consumption markets
Among the lowest carbon dioxide emission intensity compared to domestic and global peer cement manufacturers
Extensive sales and distribution network supported by a strong brand presence
Strong corporate lineage of the JSW Group and an experienced management team
| 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 |
| ROE | -6.9 |
| ROCE | 7.05% |
| Debt/Equity | 0.98 |
| RoNW | -4.85% |
| PAT Margin | -2.77% |
| EBITDA Margin | 13.78% |
| Price to Book Value | 6.16 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 226.8 |
| 4 | Offer for Sale (OFS) | - |
JSW Cement Ltd. Address
JSW Centre,
Bandra Kurla Complex,
Bandra (East),
Mumbai, Maharashtra, 400051
+91 22 4286 3114
secretarial.jswcl@jsw.in
https://www.jswcement.in/
IPO Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
jswcement.ipo@kfintech.com
https://ipostatus.kfintech.com/