JSW Cement's ₹3,600cr IPO fully subscribed: GMP, key details
JSW Cement's IPO, open August 7-11, 2025, raised ₹3,600 crore—split between a ₹1,600 crore fresh issue and a ₹2,000 crore offer for sale.
Shares were priced at ₹139-₹147 each.
The IPO was in high demand from big investors, with qualified institutional buyers bidding nearly 15.80 times their quota.
JSW Cement holds over 82% GGBS market share
JSW Cement is India's top maker of ground granulated blast furnace slag (GGBS), holding an 82.7% market share as of FY25.
With seven plants across the country, the company has grown its production steadily over the past decade.
Even after reporting a net loss for FY25, it saw Q1 FY26 operating profits jump 39% year-on-year to ₹323 crore.
Analysts mostly positive on stock
Funds from the IPO will help build a new plant in Rajasthan (₹800 crore), pay off debt (₹520 crore), and support expansion plans nationwide.
Analysts are mostly positive—two say "buy," two recommend "hold"—and while shares listed at a small premium on August 14, they now trade just below the issue price.