JSW Cement Files DRHP for Rs 4,000 Crore IPO

JSW Cement, part of the diversified JSW Group, has filed a draft red herring prospectus with SEBI to raise Rs 4,000 crore via an IPO. The share sale includes a fresh issue worth Rs 2,000 crore and an offer for sale of Rs 2,000 crore by investor shareholders, with proceeds to fund various projects and corporate purposes.

JSW Cement, part of the Sajjan Jindal-promoted diversified JSW Group, has taken a significant step towards going public by filing a draft red herring prospectus (DRHP) with the capital markets regulator, SEBI. The company aims to raise Rs 4,000 crore through an initial public offering (IPO).

The IPO will include a fresh issue of equity shares worth Rs 2,000 crore and an offer for sale (OFS) of another Rs 2,000 crore by investor shareholders, according to the DRHP. Key investors like AP Asia Opportunistic Holdings Pte Ltd, Synergy Metals Investments Holding Ltd, and the State Bank of India (SBI) will offload their stakes as part of the OFS.

The funds raised will be allocated towards partially financing a new integrated cement unit in Nagaur, Rajasthan, repaying outstanding borrowings, and for general corporate purposes. However, the amount used for general corporate purposes will not exceed 25% of the gross proceeds. JSW Cement aims to reach a grinding capacity of 60 MTPA from its current 20.60 MTPA.