+
 SBI acquires minority stake in JSW Cement at Rs 100 crore
Cement

SBI acquires minority stake in JSW Cement at Rs 100 crore

State Bank of India (SBI) has bagged a minority stake in JSW Cement Limited, worthing Rs 100 crore through compulsorily convertible preference shares (CCPS).

The capital infusion will help JSW Cement increase its capacity from 14 million tonnes per annum (mtpa) to 25 mtpa.

Managing Director of JSW Cement, Parth Jindal, said that the company increased its capacity from 6 mtpa to 14 mtpa in three years and expects to increase to 25 mtpa in the next two years.

The conversion of CCPS into common equity would be joined to the company's future business performance and valuation at the time of the proposed initial public offering (IPO).

Director Finance of JSW, Narinder Singh Kahlon, told the media that financing the company's growth with investment from SBI increased the company's position in the planned IPO in the next 12-18 months.

Previously, SBI's transaction with JSW Cement came close to a Rs 1,500 crore investment by Apollo Global Management Inc and Synergy Metals Investments Holding.

JSW Cement has manufacturing units of the capacity of 14 mtpa at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra.

Currently, Shiva Cement Limited is investing over Rs 1,500 crore in a clinker project of 1.36 mtpa in Odisha. The scope of work includes setting up a one mtpa grinding unit and associated facilities.

Image Source

State Bank of India (SBI) has bagged a minority stake in JSW Cement Limited, worthing Rs 100 crore through compulsorily convertible preference shares (CCPS). The capital infusion will help JSW Cement increase its capacity from 14 million tonnes per annum (mtpa) to 25 mtpa. Managing Director of JSW Cement, Parth Jindal, said that the company increased its capacity from 6 mtpa to 14 mtpa in three years and expects to increase to 25 mtpa in the next two years. The conversion of CCPS into common equity would be joined to the company's future business performance and valuation at the time of the proposed initial public offering (IPO). Director Finance of JSW, Narinder Singh Kahlon, told the media that financing the company's growth with investment from SBI increased the company's position in the planned IPO in the next 12-18 months. Previously, SBI's transaction with JSW Cement came close to a Rs 1,500 crore investment by Apollo Global Management Inc and Synergy Metals Investments Holding. JSW Cement has manufacturing units of the capacity of 14 mtpa at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra. Currently, Shiva Cement Limited is investing over Rs 1,500 crore in a clinker project of 1.36 mtpa in Odisha. The scope of work includes setting up a one mtpa grinding unit and associated facilities. Image Source

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?