JSW Cement IPO
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JSW Cement IPO details
Schedule of JSW Cement
| Issue open date | 07 Aug 2025 |
| Issue close date | 11 Aug 2025 |
| UPI mandate deadline | 11 Aug 2025 (5 PM) |
| Allotment finalization | 12 Aug 2025 |
| Refund initiation | 13 Aug 2025 |
| Share credit | 13 Aug 2025 |
| Listing date | 14 Aug 2025 |
| Mandate end date | 26 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 11 Sep 2025 |
| Lock-in end date for anchor investors (remaining) | 10 Nov 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About JSW Cement
JSW Cement is India’s fastest-growing cement manufacturer among the top 10 companies in installed capacity, with a significant CAGR of 14.14% in grinding capacity and 19.06% in sales volume from FY14 to FY24, outperforming industry averages. As of March 2024, their grinding capacity reached 20.60 MMTPA, supported by a strategic presence in southern, western, and eastern India, with expansions planned to achieve 40.85 MMTPA. They lead in producing eco-friendly products like GGBS, holding an 82.7% market share, and maintain a low clinker-to-cement ratio of 46.6%. With seven plants in India and one in the UAE, strategic limestone reserves of 1,098.88 MMT, and efficient supply chains, they ensure cost-effective operations. Their strong focus on green initiatives and minimal carbon emissions reinforces the commitment to sustainable growth. Read more.
Financials of JSW Cement
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹3600 crores |
| Fresh issue | ₹1600 crores |
| Offer for Sale | ₹2000 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Part financing the cost of establishing a new integrated cement unit | 800 (22.22%) |
| Prepayment or repayment of certain outstanding borrowings | 520 (14.44%) |
| General Corporate Purposes | 2280 (63.33%) |
Strengths
- Backed by the JSW Group, providing financial strength and strategic synergies.
- Diversified product portfolio across cement, concrete, and construction chemicals.
- Strong presence in South and East India with planned expansion in North India.
- Captive power plants and waste heat recovery systems aid operational efficiency.
- Use of industrial by-products like slag and fly ash supports cost-effective, green cement production.
Risks
- High reliance on related party transactions, particularly within the JSW Group.
- Substantial debt levels and significant future capital expenditure may impact financials.
- Regulatory changes in environmental laws could raise compliance costs.
- Dependence on timely completion and success of capacity expansion projects.
- Exposure to the cyclical nature of the cement and construction industries.
Allotment Status for JSW Cement
To check your allotment status – click here.
Media Coverage
- Finshots: The JSW Cement IPO. Can going green cement the gains?
- The Daily Brief by Zerodha: Can JSW craft a slag-to-riches story?
- Mint: JSW Cement IPO: From key dates to top risks, here are 10 key things to know from the RHP
Subscription Figures for JSW Cement
As per media reports (Link), the Grey Market Premium (GMP) of JSW Cement is reported at ₹14 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on August 11, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 489.79 | 8186.50 | 16.71x |
| NII | 367.34 | 4262.50 | 11.60x |
| Retail | 857.14 | 1639.34 | 1.91x |
| Total | 1714.28 | 14088.35 | 8.22x |