Overview

• Institutional anchor bids open on August 6 with the public offer running August 7–11, under the company’s red herring prospectus.
• The IPO size was reduced by Rs 400 crore from the original plan to Rs 3,600 crore, comprising a Rs 1,600 crore fresh issue and a Rs 2,000 crore offer-for-sale.
• Apollo Global will offload shares worth about Rs 932 crore, Synergy Metals Rs 938.5 crore and SBI Rs 129.7 crore as part of the offer-for-sale.
• Out of the fresh proceeds, Rs 800 crore is earmarked for a Nagaur integrated cement plant and Rs 520 crore for debt prepayment, with the remainder for general corporate purposes.
• Shares are scheduled to list on BSE and NSE around August 14, marking the first large cement-sector public debut since 2021.