Daijiworld Media Network- Mumbai
Mumbai, Aug 7: The much-awaited JSW Cement Limited Initial Public Offering (IPO) opened for public subscription today, with investors showing keen interest on Day One. The Sajjan Jindal-led JSW Group is looking to raise a total of Rs 3,600 crore from the primary market through a combination of fresh issue and Offer For Sale (OFS).
As per official details, the IPO will remain open from August 7 to August 11, with a price band fixed between Rs 139 and Rs 147 per equity share. The issue comprises a fresh equity issue of Rs 1,600 crore and an OFS component of Rs 2,000 crore, which includes shares offloaded by early investors, including the State Bank of India.
At the upper end of the price band, JSW Cement is valued at approximately Rs 19,564 crore. This listing marks the sixth company from the JSW Group to hit the stock market. The group last saw JSW Infrastructure Ltd. going public in October 2023.
The allotment of shares for successful IPO applicants is likely to take place on August 12, with the listing expected on stock exchanges by August 14.
IPO Snapshot:
• Opening Date: August 7
• Closing Date: August 11
• Price Band: Rs 139 – Rs 147 per share
• Lot Size: 102 shares
• Fresh Issue: Rs 1,600 crore
• OFS: Rs 2,000 crore
• Total Issue Size: Rs 3,600 crore
• Valuation (upper price band): Rs 19,565.30 crore
Grey Market Premium (GMP):
As of 9:56 a.m., grey market data from Investorgain indicates a GMP of Rs 6. This suggests that the stock may list at around Rs 153, representing a premium of approximately 4.08% over the upper issue price.
The IPO has drawn significant attention from retail and institutional investors alike, as JSW Cement looks to capitalise on infrastructure growth and increased demand for construction materials across India.