Overview

• The Rs 3,600 crore IPO comprises a Rs 1,600 crore fresh issue and a Rs 2,000 crore offer-for-sale priced between Rs 139 and Rs 147 per share
• JSW Cement raised Rs 1,080 crore from anchor investors by allotting 7.35 crore shares at Rs 147 apiece to 52 institutions
• Grey market premiums cooled from a peak near Rs 18 per share to around Rs 6 ahead of the issue opening on August 7
• About Rs 800 crore from the fresh issue will finance the new integrated cement plant in Nagaur, Rajasthan, and Rs 520 crore will go toward debt repayment
• The company will focus on capital-efficient organic growth until it reaches a 7–8% market share, targeting 60 MTPA capacity and a long-term 10% pan-India share