Particle.news
Download on the App Store
11 ARTICLES
·
last wk.

JSW Cement Lists at 4% Premium in Modest Market Debut

Substantial institutional bids matched grey market premiums, signalling market confidence in JSW Cement’s ₹3,600 crore issue funding Rajasthan expansion alongside debt reduction.

Image
JSW Cement | Image: Shutterstock
JSW Cement shares made a muted market debut; stock lists at 4% premium

Overview

  • Shares opened at ₹153–153.50 on the NSE and BSE, delivering roughly a 4% uplift over the ₹147 IPO price.
  • The offering comprised a ₹1,600 crore fresh equity tranche and a ₹2,000 crore offer-for-sale, with new capital allocated to a Nagaur plant and debt repayment.
  • Qualified institutional buyers drove overall subscription to about 7.7 times, while retail participation remained muted at under 2 times.
  • Grey market premiums of ₹4–4.8 per share foreshadowed the modest listing gain observed at debut.
  • Brokerages flagged a post-IPO EV/EBITDA of around 36.7x on FY25 estimates, balancing valuation concerns against JSW’s green cement growth strategy.