Key Highlights:
- IPO opens on August 7, closes on August 11; price band set at Rs 139– Rs 147 per share.
- Rs 1,600 crore fresh issue and Rs 2,000 crore OFS included.
- SBI, Apollo, and Synergy Metals among key sellers in the OFS.
New Delhi: JSW Cement has fixed the price band for its much-awaited Initial Public Offering (IPO). The cement company plans to raise Rs 3,600 crore through this public issue, which will open for subscription on August 7 and remain open till August 11.
Retail investors planning to participate must bid for a minimum of 102 shares.
Price Band and Offer Details
The company has set the IPO price band at Rs 139 to Rs 147 per share, with a face value of Rs 10 per share. To facilitate institutional participation, the company will open a separate anchor investor window a day before the IPO opens.
The IPO includes:
- Fresh equity issue of Rs 1,600 crore
- Offer For Sale (OFS) of Rs 2,000 crore
The allocation structure is as follows:
- 50 percent reserved for Qualified Institutional Buyers (QIBs)
- 15 percent for Non-Institutional Investors (NIIs)
- 35 percent for Retail Investors
Who’s Selling in the OFS?
In the Offer For Sale (OFS) component, several existing investors will offload their stakes:
AP Asia Opportunistic Holdings Pvt Ltd, a subsidiary of Apollo Management, will sell shares worth Rs 931.80 crore.
Synergy Metals Investments Holding Ltd, a firm linked to former ArcelorMittal executive Sudhir Maheshwari, will sell shares worth Rs 938.50 crore. This entity is a subsidiary of a private equity fund started in 2015.
State Bank of India (SBI) will offload shares worth Rs 129.70 crore.
Share Allotment and Listing Timeline
The finalisation of share allotment is expected on Tuesday, August 12.
Refunds for unsuccessful applicants will be initiated on Wednesday, August 13.
The same day, allotted shares will be credited to investors’ demat accounts.
JSW Cement shares are scheduled to be listed on BSE and NSE on Thursday, August 14.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Readers are advised to consult with a certified financial advisor before making any investment decisions related to the IPO.
