Sebi Pauses JSW Cement's Rs 4,000-Crore IPO

Capital markets regulator Sebi has temporarily halted JSW Cement's Rs 4,000-crore IPO. The IPO includes both fresh equity and an offer-for-sale. Funds raised will be used for a new cement unit in Rajasthan, debt repayment, and other corporate purposes. JSW Cement aims to expand its manufacturing capacity substantially.

Capital markets regulator Sebi has temporarily paused the proposed Rs 4,000-crore initial public offering (IPO) of JSW Cement, as per an update on its website on Monday.

JSW Cement, part of the diversified JSW Group, had filed preliminary IPO papers on August 16. The Rs 4,000-crore issue includes a new equity issue of Rs 2,000 crore and an offer-for-sale (OFS) worth Rs 2,000 crore.

Funds from the fresh issue will partially finance a new cement unit in Nagaur, Rajasthan, repay debt, and serve general corporate purposes. JSW Cement aims to expand its manufacturing capacity from 19 MT to 60 MTPA.