JSW Cement Gets Sebi's Go Ahead for 40 Bn Via IPO

14 Jan 2025 CW Team

JSW Cement, part of Sajjan Jindal-promoted diversified JSW Group, has received Sebi's go ahead to raise Rs 40 billion through an initial public offering (IPO), an update with the markets regulator showed on Monday. The initial share sale comprises a fresh issue of equity shares worth Rs 20 billion and an Offer-for-Sale (OFS) of Rs 20 billion by investor shareholders, according to the Draft Red Herring Prospectus (DRHP) filed in August last year.

As a part of the OFS, AP Asia Opportunistic Holdings Pte Ltd and Synergy Metals Investments Holding Ltd will offload shares worth Rs 9.37 billion each, and State Bank of India (SBI) will divest shares valued at Rs 125 crore. JSW Cement filed preliminary IPO papers with Sebi in August 2023 and later in September, the regulator had kept the company's proposed initial share-sale on hold. On January 6, the regulator finally gave its observation on January 6.

As of March 31, 2024, it has an installed grinding capacity of 20.60 MTPA (million tonnes per annum) and has an ambition to reach an aggregate capacity of 60 MTPA. The company presently operates manufacturing operations at units based at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra. JSW Cement through its subsidiary Shiva Cement operates a clinker unit in Odisha.

JM Financial Ltd, Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd, DAM Capital Advisors Ltd, Goldman Sachs (India) Securities Pvt Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are responsible for managing the company's IPO process.

Resources

13 May 2026

Anant Raj Appoints Anish Sarin as Director

Anant Raj has appointed Anish Sarin as Director on its Board, marking a key step in the company’s leadership transition and long-term growth strategy. The announcement was made during the company’s Q4 and FY26 results declaration, reflecting the induction of next-generation leadership as the company expands across real estate, cloud infrastructure and data centre businesses. Anish Sarin, grandson of veteran industrialist Ashok Sarin, represents the emerging leadership at Anant Raj. Educated at Regent’s University London, he brings a global business outlook along with a strong focus on t..

Vedanta eyes AI-led value growth

Vedanta Group expects to unlock USD 300–400 million in additional value over the next three years through large-scale deployment of AI-led industrial technologies across its businesses. The group said its V-Spark DeepTech Ventures platform has already delivered nearly four times return on investment since inception.Vedanta is scaling AI, predictive analytics, Industrial Internet of Things, digital twins, machine learning, automation and connected manufacturing technologies across its metals, mining, energy and industrial operations. These deployments are aimed at improving productivity, lowe..

Hindustan Zinc inks pact with Group Nirmal

Hindustan Zinc has signed an MoU with Group Nirmal to set up a zinc wire manufacturing facility at its Zinc Industrial Park in Khankhala, Bhilwara district, Rajasthan. The partnership will expand downstream manufacturing activity and support value-added zinc applications in India.Under the agreement, Group Nirmal will manufacture zinc wire products using Hindustan Zinc’s Special High Grade zinc. The products will cater to infrastructure, renewable energy, automotive and industrial engineering sectors.Zinc wire is used in thermal spray coating and metallising processes to protect steel struct..