New Delhi, August 14 (Kiran News): JSW Group’s grey cement manufacturing arm, JSW Cement, entered the stock market today with a modest listing gain. The company had issued its shares at ₹147 under the IPO. On debut, the stock opened at ₹153 on the BSE and ₹153.50 on the NSE, giving IPO investors an initial listing gain of around 4%. However, mild selling pressure after listing led to a slight decline. By 10:15 a.m., the stock was trading at ₹151.50, leaving IPO investors with a 3.06% profit so far.
The ₹3,600 crore IPO of JSW Cement was open for subscription from August 7 to 11 and received a strong investor response, being oversubscribed 8.22 times overall. The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 16.71 times, Non-Institutional Investors (NIIs) 11.60 times, and the retail investor category 1.91 times. The IPO comprised 10,88,43,537 new shares worth ₹1,600 crore, along with an offer-for-sale of 13,60,54,421 shares with a face value of ₹10 each.
Proceeds from the IPO will be used to set up a new integrated cement unit in Nagaur, Rajasthan, repay existing debt, and meet general corporate purposes.
According to the company’s prospectus, its financial performance has weakened in recent years. Net profit fell from ₹104.04 crore in FY 2022-23 to ₹62.01 crore in FY 2023-24, before slipping into a loss of ₹163.77 crore in FY 2024-25. Revenue also fluctuated, with total income at ₹5,982.21 crore in FY 2022-23, ₹6,114.60 crore in FY 2023-24, and ₹5,914.67 crore in FY 2024-25. Meanwhile, the company’s debt has steadily increased — from ₹5,421.54 crore at the end of FY 2022-23 to ₹5,835.76 crore in FY 2023-24, and further to ₹6,166.55 crore by the close of FY 2024-25.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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