IPO Structure & Size: The initial public offering totals ₹3,600 crore, comprising a fresh equity issue of ₹1,600 crore and an Offer-for-Sale (OFS) of ₹2,000 crore by existing shareholders.
Price Band & Lot Size: The shares are priced between ₹139 and ₹147. The minimum lot size is 102 shares, translating to an initial investment of approximately ₹14,000 for retail investors.
Subscription Timeline:
Anchor investor bidding took place on August 6, 2025.
The IPO opened for subscription on August 7 and will close on August 11, 2025.
Anchor Funding: Prior to public subscription, JSW Cement raised ₹1,080 crore from 52 anchor investors at the upper price band of ₹147 per share.
Market Response & GMP:
On Day 1, the IPO saw only a 2% subscription within the first 30 minutes, while the grey market premium (GMP) hovered around ₹6–7 per share, indicating a roughly 4% potential gain.
By Day 2 (August 9), subscription had climbed to 56% overall, with Retail Investors at 72%, Non-Institutional Investors at 62%, and QIBs at 24%.
Use of Proceeds: Funds from the IPO are allocated towards:
Setting up a new integrated cement plant in Nagaur, Rajasthan (investment around ₹800 crore).
Repayment of debt and general corporate purposes.
Regulatory Backdrop: The IPO was initially filed in August 2024, but it experienced a 4-month regulatory delay, only receiving approval from SEBI in January 2025.
Summary Table
Feature Details
IPO Size ₹3,600 crore (Fresh ₹1,600 cr + OFS ₹2,000 cr)
Price Band ₹139 – ₹147 per share
Lot Size (Retail) 102 shares (~₹14,000)
Anchor Investors ₹1,080 cr raised at ₹147/share
Subscription Status Day 1: ~2% in 30 min; Day 2: 56% total
GMP (Grey Market) ₹6–7/share (approx. 4% premium)
Use of Proceeds Plant capex (Nagaur), debt paydown, corp purposes
Listing Date Likely August 14, 2025