📌 IPO Details
| Item | Value |
|---|---|
| Total Issue Size | ₹ 4,000 Cr (₹ 2,000 Cr Fresh + ₹ 2,000 Cr OFS) |
| Fresh Issue | ₹ 2,000 Cr |
| Offer for Sale (OFS) | ₹ 2,000 Cr |
| Face Value | ₹ 10 per share |
| Listing On | BSE and NSE |
| Price Band | [To be announced] |
| Lot Size | [To be announced] |
🧾 Offer for Sale – Seller Details
| Selling Shareholder | Amount (₹ Cr) |
|---|---|
| AP Asia Opportunistic Holdings Pte. Ltd. | ₹ 937.5 Cr |
| Synergy Metals Investments Holding Limited | ₹ 937.5 Cr |
| State Bank of India | ₹ 125.0 Cr |
🏢 Company Overview
- Incorporation: March 29, 2006
- Registered Office: JSW Centre, BKC, Mumbai
- Promoters: Sajjan Jindal, Parth Jindal, Sangita Jindal, Adarsh Advisory Services Pvt. Ltd., Sajjan Jindal Family Trust
💼 Business Model
JSW Cement is a key player in the Indian cement industry, part of the larger JSW Group. It operates in manufacturing green cement, with emphasis on sustainable construction materials. It has an integrated supply chain and presence across multiple states.
🏭 Plant Locations
JSW Cement operates several manufacturing facilities, including:
- Shiva Cement (Listed Subsidiary)
- Nagaur (Rajasthan) – upcoming greenfield integrated unit
- Others across southern and western India
📊 Financial Snapshot (Restated Consolidated)
| Year Ending | Revenue (₹ Cr) | EBITDA (₹ Cr) | PAT (₹ Cr) |
|---|---|---|---|
| FY 2024 | [Data in full DRHP] | [Details to be added] | [Details to be added] |
| FY 2023 | — | — | — |
(Exact numbers will be extracted if required — currently not available in the preview pages.)
📈 Use of Fresh Issue Proceeds
The net proceeds from the Fresh Issue will be used for:
- Capex for the Nagaur Cement Plant
- Debt repayment
- General corporate purposes
📉 Debt & Pre-IPO Note
- The company has raised project loans worth ₹ 2,119 Cr from Axis Bank and Union Bank of India for the Nagaur project.
- Pre-IPO Placement of up to ₹ 400 Cr may be considered. If undertaken, the fresh issue size will reduce accordingly.
⚖️ D/E Ratio & Valuation
- Debt-equity and P/E ratios are not explicitly mentioned in the preview. These will be available in full DRHP financials or upon request.
🧍♂️ Promoter Holding (Post-IPO)
- Final promoter holding post-IPO will depend on dilution but is currently not quantified in the draft.
📊 Peer Comparison
JSW Cement is expected to compete with:
- UltraTech Cement
- Shree Cement
- Dalmia Bharat
- Ambuja Cements
(A side-by-side peer valuation table can be generated if required.)
🔍 SWOT Analysis
Strengths:
- Backed by the JSW Group
- Focus on green cement and sustainability
- Well-diversified supply and manufacturing base
Weaknesses:
- High capital intensity
- Debt from large expansion projects
Opportunities:
- Strong demand from infrastructure and housing sectors
- Expansion in underserved regions
Threats:
- Volatile raw material (coal, pet coke) prices
- Competition from major incumbents
🧠 Conclusion
JSW Cement’s IPO offers investors exposure to a leading, sustainability-focused cement company backed by the JSW Group. With strong sectoral tailwinds and an expansionary outlook, the IPO is worth watching — though investors should await pricing and valuation details in the RHP.
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