JSW Cement to raise Rs 1,500 cr from two global PE firms
Cement

JSW Cement to raise Rs 1,500 cr from two global PE firms

Sajjan Jindal-led JSW Cement has entered into an agreement to raise Rs 1,500 crore from two global private equity investors, Synergy Metals Investments Holding and Apollo Global Management.

The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being allotted to the investors, and the conversion of such CCPS into common equity of the company will be connected to the company’s future performance and valuation defined at the time of the initial public offering.

Nilesh Narwekar, Chief executive officer, JSW Cement, told the media that the company would use this investment to grow organically and inorganically. JSW plans to enter key new geographies and increase their share in their existing markets. With new initiatives over their plants and functions, they are prepared to proceed to create and play a vital role in the core infrastructure growth of the nation.

This investment will support JSW Cement expedite its capacity development from the current 14 million tonne to 25 million tonne.

Recently, the Competition Commission of India allowed the transaction by Synergy Metals Investment Holding Ltd. Apollo’s transaction is subject to customary closing provisions comprising regulatory approval.

Synergy Metals and Mining Fund, the parent entity of Synergy Metals Investments Holding, is a specialised private equity fund investing in the metals, power and industrial sectors worldwide.

Apollo Global Management is a leading global alternative asset manager having assets under management of around $461 billion as of March 31, 2021. The company's hybrid value business offers flexible, tailored equity and debt capital solutions to private and public firms.

Citigroup Global Markets India served as an exclusive placement agent on this transaction for JSW Cement.

Image Source


Also read: JSW Cement forays into construction chemicals

Also read: JSW cement forays into ready mix concrete business

Sajjan Jindal-led JSW Cement has entered into an agreement to raise Rs 1,500 crore from two global private equity investors, Synergy Metals Investments Holding and Apollo Global Management. The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being allotted to the investors, and the conversion of such CCPS into common equity of the company will be connected to the company’s future performance and valuation defined at the time of the initial public offering. Nilesh Narwekar, Chief executive officer, JSW Cement, told the media that the company would use this investment to grow organically and inorganically. JSW plans to enter key new geographies and increase their share in their existing markets. With new initiatives over their plants and functions, they are prepared to proceed to create and play a vital role in the core infrastructure growth of the nation. This investment will support JSW Cement expedite its capacity development from the current 14 million tonne to 25 million tonne. Recently, the Competition Commission of India allowed the transaction by Synergy Metals Investment Holding Ltd. Apollo’s transaction is subject to customary closing provisions comprising regulatory approval. Synergy Metals and Mining Fund, the parent entity of Synergy Metals Investments Holding, is a specialised private equity fund investing in the metals, power and industrial sectors worldwide. Apollo Global Management is a leading global alternative asset manager having assets under management of around $461 billion as of March 31, 2021. The company's hybrid value business offers flexible, tailored equity and debt capital solutions to private and public firms. Citigroup Global Markets India served as an exclusive placement agent on this transaction for JSW Cement. Image Source Also read: JSW Cement forays into construction chemicals Also read: JSW cement forays into ready mix concrete business

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?