JSW Cement's ₹3,600cr IPO sees 7.77x demand
JSW Cement just pulled off a ₹3,600 crore IPO, with demand outpacing supply—subscriptions hit 7.77 times overall.
Big institutional investors led the charge (15.8x), but retail and non-institutional buyers showed up too, even though the company posted a loss on ₹5,813 crore revenue for FY25.
What will JSW Cement do with all this cash?
JSW Cement produces 20.6 million tons of cement each year.
With this IPO cash, they're aiming to double grinding capacity and expand further—plus set up a new plant in Rajasthan, pay down debt, and cover business needs.
Analysts are bullish on the stock
Shares debuted at ₹153 (about 4% above issue price) on August 14, 2024, dipped below the ₹147 mark briefly but bounced back by day two.
Despite recent losses, analysts are upbeat about JSW Cement's growth plans and sustainability focus; showing some serious confidence in what's next.