JSW Group’s company is bringing JSW Cement IPO. Till now its size was said to be $ 46.2 million (Rs 4,000 crore). But now it is being said that the company is planning to reduce the size of the IPO to $ 41.5 million (Rs 3600 crore). Under this, the size of the issue of new shares will be reduced from Rs 2000 crore to Rs 1600 crore. At the same time, the size of the offer for sale (offs) will be Rs 2000 crore from the current investors. Many sources in the industry have given this information to Moneycontrol.
One person said, “UDRHP (updated draft Red Herring Prospects) has been submitted and JSW Cement is preparing to launch the IPO in the week of August 4 next month i.e. in early August.” Another person says that the company is targeting an IPO valuation of about $ 2.3 billion or Rs 20,000 crore.
Who will share the share in the offs
According to JSW Cement’s DRHP, investors such as Apollo Global Management, Synergy Metals Investment Holding and SBI will keep investors for sale in OPO. JM Financial, Kotak Mahindra Capital, Jeffers, Axis Capital, City, Goldman Sachs, DAM Capital and SBI Capital, are investment banks managing share sales for JSW Cement IPO. Khaitan & Company is a legal advisor.
Nuvoko Wistas brought 5000 crores IPO in 2021
In the year 2021, Nuvoko Wistas brought an IPO of Rs 5000 crore in the cement sector. It is the company of Nirma Group. The public issue of Nuvoko Wistas was 1.71 times subscribed. In October 2023, a company was listed after 13 years from JSW Group and that was JSW Infrastructure. The grinding capacity of JSW Cement was 20.60 MMTPA (million metric tonnes annually) and installed clinker capacity 6.44 MMTPA. JSW Cement has 7 plants in India. According to DRHP, the company will use the money to be received by releasing new shares in the IPO for the company Nagaur, Rajasthan for setting up a new integrated cement unit, repaying debt and general corporate purposes.