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19 Nov 2024
JSW Cement Set to File for ₹4,000 Crore IPO : JSW Cement, led by Parth Jindal, is preparing to file draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) aimed at raising up to ₹4,000 crore. The filing is expected to occur within the next few days, potentially as early as this week.
IPO Structure : The IPO will include a fresh issue component of approximately ₹2,000 crore, while the remaining amount will facilitate partial exits for existing investors, including Apollo Global Management and Synergy Metals Investments Holding.
Growth Plans : The company aims to utilize the funds raised to enhance its growth trajectory and is targeting a cement production capacity of 60 million tonnes per annum within the next five years. Currently, JSW Cement has a production capacity of 20.6 million tonnes per annum, with plans for significant expansions, including a new facility in Nagaur district.
Market Context : This move marks a significant moment for the cement sector, being the first major IPO since the ₹5,000 crore listing of Nirma Group's cement venture. The IPO is being managed by several investment banks, including JM Financial, Kotak Mahindra Capital, and Goldman Sachs.
Company Performance : For the fiscal year ending March 2024, JSW Cement reported revenues of ₹5,845 crore and a profit of ₹59 crore, indicating a solid financial foundation as it prepares for its market debut.
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