JSW Cement IPO to open tomorrow: Key details
JSW Cement is opening its IPO on August 7, 2024, aiming to raise ₹3,600 crore with shares priced between ₹139-147.
The offer closes on August 11, 2024.
Funds to go toward new plant in Nagaur, Rajasthan
JSW Cement runs seven plants in southern and eastern India and plans to use part of the IPO funds for a new cement plant in Nagaur, Rajasthan.
The company focuses on expanding into new markets.
Financials and gray market performance
The IPO features a fresh issue of ₹1,600 crore and an Offer for Sale worth ₹2,000 crore by existing investors.
Shares are split among institutional (50%), non-institutional (15%), and retail (35%) investors; retail folks can bid for at least 102 shares.
FY24 revenue was close to ₹6,028 crore but the company posted a net profit of ₹62 crore.
Despite this, there's solid investor buzz—grey market premium sits around 11.5%, thanks to interest in growth and green cement initiatives.
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