Synergy Fund, Apollo Global to invest Rs 1,500 cr in JSW Cement
Cement

Synergy Fund, Apollo Global to invest Rs 1,500 cr in JSW Cement

Apollo Global Management is multiplying down on Sajjan Jindal led JSW Group by joining Synergy Metals Investments for a Rs 1,500 crore capital increase in the conglomerate’s cement business, which is run by his son Parth, to finance its development plans to become 25 million tonnes scaled operations.

The capital increase corresponds with an uptick in demand from real estate and construction after lockdown, which resulted in most cement stocks outperforming the Nifty over the previous month and the last year.

Led by Sudhir Maheshwari, a long time ArcelorMittal executive, Dubai-based Synergy Fund has already desired clearance from the Competition Commission of India for obtaining an equity stake in JSW Cement and got its clearance on July 15th under the green channel route. Apollo is anticipated to sign its final agreement this coming week.

JSW Cement is going to issue Compulsorily Convertible Preference Shares (CCPS) to the two investors, each of them putting in Rs 750 crore at a post-money valuation of around Rs 8,500 to Rs 8,750 crore.

The CCPS have a five-year maturity, or they can be converted into equity shares prior to the company’s planned listing, scheduled in the following 18-24 months.

The investors can own up to 19% of the company upon conversion, and each of them also gets a board seat.

The Jindal family entirely owns JSW Cement. The investments are looked at as the precursor to the company’s initial public listing, which was originally planned for the previous year but got postponed because of the pandemic to the second half of 2022.

Managing Director of JSW Cement, Parth Jindal, told the media in an earlier interaction that the JSW Group was seeking growth equity from external sources to fund its latest round of expansions before the two businesses go public and that the development plans were to be equally financed by a combination of debt and internal growth of Rs 2,000 crore and Rs 1,500 crore of private equity investments.

Image Source


Also read: CCI approves stake acquisition in JSW Cement by Synergy Metals

Apollo Global Management is multiplying down on Sajjan Jindal led JSW Group by joining Synergy Metals Investments for a Rs 1,500 crore capital increase in the conglomerate’s cement business, which is run by his son Parth, to finance its development plans to become 25 million tonnes scaled operations. The capital increase corresponds with an uptick in demand from real estate and construction after lockdown, which resulted in most cement stocks outperforming the Nifty over the previous month and the last year. Led by Sudhir Maheshwari, a long time ArcelorMittal executive, Dubai-based Synergy Fund has already desired clearance from the Competition Commission of India for obtaining an equity stake in JSW Cement and got its clearance on July 15th under the green channel route. Apollo is anticipated to sign its final agreement this coming week. JSW Cement is going to issue Compulsorily Convertible Preference Shares (CCPS) to the two investors, each of them putting in Rs 750 crore at a post-money valuation of around Rs 8,500 to Rs 8,750 crore. The CCPS have a five-year maturity, or they can be converted into equity shares prior to the company’s planned listing, scheduled in the following 18-24 months. The investors can own up to 19% of the company upon conversion, and each of them also gets a board seat. The Jindal family entirely owns JSW Cement. The investments are looked at as the precursor to the company’s initial public listing, which was originally planned for the previous year but got postponed because of the pandemic to the second half of 2022. Managing Director of JSW Cement, Parth Jindal, told the media in an earlier interaction that the JSW Group was seeking growth equity from external sources to fund its latest round of expansions before the two businesses go public and that the development plans were to be equally financed by a combination of debt and internal growth of Rs 2,000 crore and Rs 1,500 crore of private equity investments. Image Source Also read: CCI approves stake acquisition in JSW Cement by Synergy Metals

Next Story
Technology

L&T Tech Services Wins $50 Mn+ Deal from Global Energy Major

L&T Technology Services, a global leader in engineering and technology services, announced that its Sustainability segment has been selected by one of the world's leading energy companies as its exclusive global engineering partner for Enterprise Data and Digital Services.The five-year agreement, valued at over $50 million, underscores the client’s long-term commitment to sustainability, innovation and digital transformation. This strategic partnership builds on a trusted relationship between the Client and LTTS spanning over a decade.As per the agreement, LTTS will provide Enterprise Da..

Next Story
Infrastructure Energy

ACME Solar Signs PPA with SECI for 300 MW Sikar Project in Rajasthan

ACME Sikar Solar, a wholly owned subsidiary of ACME Solar Holdings, has executed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for 300 MW capacity in Rajasthan at a fixed tariff of Rs 3.05 per kWh. This achievement follows the commissioning of 300 MW capacity by ACME Sikar on June 23, 2025.The said bid was won earlier under SECI ISTS XVIII Tranche, and the tariff was formally adopted by the Central Electricity Regulatory Commission (CERC) on 30th May 2025. As per the agreement, the project requires to supply power on or before June 30, 2025. The pro..

Next Story
Infrastructure Urban

UGRO Capital Appoints Anuj Pandey as Chief Executive Officer

UGRO Capital, a leading DataTech NBFC focused on MSME lending, today announced the elevation of Anuj Pandey, as the Chief Executive Officer (CEO) of the Company. Anuj is one of the founding team members of UGRO and currently its Chief Risk Officer. The appointment reflects UGRO’s commitment to strengthening institutional leadership as it scales its MSME lending franchise. Anuj has been an integral part of UGRO since inception, having built the Company’s risk governance framework and credit architecture. He brings around twenty-five years of diverse experience across companies like GSK cons..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?