JSW Cement IPO Allotment Process: A Comprehensive Overview
The allotment process for the JSW Cement IPO was finalized on August 12, 2025, just a day after the bidding window closed. This public issue, valued at ₹3,600 crore, ran from August 7 to August 11, attracting significant interest from various investor categories.
Subscription Numbers
The IPO witnessed an impressive overall subscription of 7.77 times the offered shares. This robust demand was primarily driven by Qualified Institutional Buyers (QIBs), who bid 15.80 times their reserved quota. Non-Institutional Investors (NIIs) also showed strong interest, with a subscription rate of 10.97 times. Retail investors, while less active, still managed to book 1.81 times their allotted shares, indicating a healthy appetite across the board.
Listing Date and Price Band
JSW Cement shares are set to debut on both the BSE and NSE on August 14, 2025. The IPO was priced within a range of ₹139 to ₹147 per share, with a minimum application size of 102 shares, translating to an investment of ₹14,718 at the upper end of the price band. This pricing strategy aimed to attract a diverse range of investors while ensuring adequate capital for the company’s growth plans.
How the Funds Will Be Used
Out of the total ₹3,600 crore raised, the fresh issue component of ₹1,600 crore is earmarked for several strategic initiatives. This includes funding a new integrated cement unit in Nagaur, Rajasthan, repaying certain borrowings, and supporting general corporate needs. The remaining ₹2,000 crore was raised through an offer for sale by existing shareholders, allowing them to liquidate part of their holdings.
Key Players of the Issue
The IPO was managed by a consortium of book-running lead managers, including Axis Capital, Kotak Mahindra Capital Company, ICICI Securities, HSBC Securities and Capital Markets, and IIFL Securities. The share allotment process was handled by KFin Technologies, ensuring a smooth and efficient experience for investors.
About the Company
JSW Cement, a part of the diversified JSW Group, has rapidly emerged as one of India’s leading cement manufacturers. The company holds a dominant 84% market share in Ground Granulated Blast Furnace Slag (GGBS) and has demonstrated impressive growth, selling 7.09 million tonnes of cement and 5.2 million tonnes of GGBS in FY25. With a grinding capacity utilization of 63% and clinker capacity utilization of 84%, JSW Cement is well-positioned for future expansion.
Live Updates and Market Performance
As of August 13, 2025, the latest Grey Market Premium (GMP) for the JSW Cement IPO stood at ₹4.5, suggesting an estimated listing price of ₹151.5 based on the upper price band. This indicates a potential gain of approximately 3.06% per share for investors. The market sentiment surrounding the IPO remains cautiously optimistic, with fluctuations in GMP reflecting investor confidence.
Financial Performance and Future Prospects
Despite a challenging financial landscape, JSW Cement reported a 3% decline in revenue and a staggering 364% drop in profit after tax (PAT) for the financial year ending March 31, 2025, compared to the previous year. Analysts remain hopeful about the company’s long-term prospects, citing its strong brand, focus on sustainability, and strategic growth plans in the GGBS segment.
Conclusion
The JSW Cement IPO represents a significant opportunity for investors looking to participate in one of India’s fastest-growing cement companies. With a solid subscription rate, strategic use of funds, and a focus on sustainability, JSW Cement is poised for continued growth in the competitive cement market. As the company prepares for its stock market debut, all eyes will be on how it performs in the coming days, reflecting investor sentiment and market dynamics.