| JSW Cement Business Model Analysis | JSW Cement IPO: Key Points That Make it a Unique Offering |
| JSW Cement IPO: A 4,000-cr Litmus Test For Consolidation | JSW Cement vs. Peers |
JSW Cement IPO Description – JSW Cement has emerged as the top three fastest-growing cement manufacturing companies in India, as evidenced by its significant growth in installed grinding capacity and sales volume from Fiscal 2015 to Fiscal 2025. For the period from Fiscal 2023 to Fiscal 2025, the company achieved a compound annual growth rate (CAGR) of 12.42% in installed grinding capacity and 15.05% in sales volume, significantly outpacing the industry averages of 6.23% and 8.12%, respectively.
As of 31 March 2025, JSW Cement had an Installed Grinding Capacity of 20.60 MMTPA, distributed across 11.00 MMTPA in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region of India. The company also reported an Installed Clinker Capacity of 6.44 MMTPA, which includes the capacity of JSW Cement FZC. JSW Cement is currently executing greenfield and brownfield expansion projects across India, including in the northern and central regions, to increase its Installed Grinding Capacity to 41.85 MMTPA and its Installed Clinker Capacity to 13.04 MMTPA, thereby establishing a pan-India presence.
JSW Cement’s product portfolio includes blended cement products such as Portland Slag Cement (PSC) and Portland Composite Cement (PCC), Ground Granulated Blast Furnace Slag (GGBS), Ordinary Portland Cement (OPC), clinker, and a variety of allied cementitious products, including ready-mix concrete (RMC), screened slag, construction chemicals, and waterproofing compounds.
Promoters of JSW Cement – Sajjan Jindal, Parth Jindal, Sangita Jindal, Adarsh Advisory Services Private Limited, and Sajjan Jindal Family Trust
Table of Contents
JSW Cement IPO Details
| JSW Cement IPO Dates | 7 – 11 August 2025 |
| JSW Cement Issue Price | INR 139 – 147 per share |
| Fresh issue | INR 1,600 crore |
| Offer For Sale | INR 2,000 crore |
| Total IPO size | INR 3,600 crore |
| Minimum bid (lot size) | 102 shares (INR 14,178 – 14,994) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
JSW Cement Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 5,836.72 | 6,028.10 | 5,813.07 |
| Expenses | 5,838.68 | 5,808.21 | 5,859.84 |
| Net income | 104.04 | 62.01 | (163.77) |
| Margin (%) | 1.78 | 1.03 | (2.82) |
JSW Cement Offer News
JSW Cement Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre Issue) | FY 2025 (Post-Issue)* | |
| EPS | 1.37 | 0.90 | (1.16) | (1.20) |
| PE Ratio | – | – | – |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 5.97 | 3.64 | (4.85) |
| NAV | 23.24 | 24.99 | 23.85 |
| ROCE (%) | 6.46 | 11.01 | 7.05 |
| EBITDA (%) | 13.82 | 16.94 | 13.78 |
| Debt/Equity | 2.39 | 2.31 | 2.55 |
JSW Cement IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 13 August 2025 | 5 | – | 300 |
| 12 August 2025 | 5 | – | 300 |
| 11 August 2025 | 6 | – | 400 |
| 8 August 2025 | 4 | – | 300 |
| 7 August 2025 | 6 | – | 500 |
| 6 August 2025 | 10 | – | 1,100 |
| 5 August 2025 | 20 | – | 1,500 |
JSW Cement IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan – INR 800 crore
- Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company – INR 520 crore
- General corporate purposes
JSW Cement IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 5,17,98,561 | 3,88,48,921 | 9,06,47,482 | 18,12,94,964 |
| 11 Aug 2025 | 15.80 | 10.97 | 1.81 | 7.77 |
| 8 Aug 2025 | 0.24 | 0.62 | 0.72 | 0.56 |
| 7 Aug 2025 | 0.23 | 0.20 | 0.36 | 0.29 |
7,34,69,386 shares allotted to anchor investors are not included in these calculations.
JSW Cement – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| JSW Cement | – | (1.16) | (4.85) | 23.85 | 5,813.07 |
| UltraTech Cement | 59.56 | 205.13 | 8.54 | 2,403.71 | 75,955.13 |
| Ambuja Cements | 35.97 | 16.96 | 7.80 | 218.00 | 33,697.70 |
| Shree Cement | 97.77 | 311.18 | 5.21 | 5,969.32 | 19,282.83 |
JSW Cement IPO Allotment Status
JSW Cement IPO allotment status is now available on the KFin Tech website. Click on this link to get the allotment status.
JSW Cement IPO Dates & Listing Performance
| IPO Opening Date | 7 August 2025 |
| IPO Closing Date | 11 August 2025 |
| Finalization of Basis of Allotment | 12 August 2025 |
| Initiation of refunds | 13 August 2025 |
| Transfer of shares to demat accounts | 13 August 2025 |
| JSW Cement IPO Listing Date | 14 August 2025 |
| Opening Price on NSE | INR 153.50 per share (up 4.42%) |
| Closing Price on NSE | INR 146.07 per share (down 0.63%) |
JSW Cement IPO Reviews – Subscribe or Avoid?
AUM Capital – Subscribe
Anand Rathi –
Antique Stock Broking –
Ajcon Global –
Arihant Capital –
Axis Capital – Not rated
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities – Subscribe
Choice Broking – Subscribe for long term
Dalal & Broacha –
Elara Capital –
Elite Wealth – Avoid
GCL Broking –
Geojit –
GEPL Capital – Avoid
Hem Securities –
Hensex Securities –
HDFC Securities –
ICICIdirect –
IDBI Capital –
Investmentz –
Indsec Securities – Subscribe for long term
Jainam Broking – Subscribe for long term
KR Choksey –
Lakshmishree Investment – Subscribe for long term
Marwadi Financial – Avoid
Motilal Oswal –
Mehta Equities – Subscribe
Nirmal Bang – Subscribe for long term
Reliance Securities – Subscribe
Sushil Finance –
Samco Securities – Avoid
SBI Securities – Not rated
SMC Global – 2.5/5
SMIFS – Subscribe
Systematix Research –
Swastika Investmart –
Ventura Securities – Subscribe
JSW Cement Offer Lead Manager
JM FINANCIAL LIMITED
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030 / 3262
Email: [email protected]
Website: jmfl.com
JSW Cement Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: [email protected]
Website: www.kfintech.com
JSW Cement Contact Details
JSW CEMENT LIMITED
JSW Centre, Bandra Kurla Complex, Bandra (East),
Mumbai – 400 051, Maharashtra, India
Phone: +91 22 4286 3115
Email: [email protected]
Website: www.jswcement.in
JSW Cement IPO FAQs
How many shares in JSW Cement IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for a JSW Cement Public Offer?
The best way to apply for JSW Cement public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is JSW Cement IPO GMP today?
JSW Cement IPO GMP today is INR 5 per share.
What is the JSW Cement kostak rate today?
JSW Cement kostak rate today is INR NA per application.
What is JSW Cement Subject to Sauda rate today?
JSW Cement Subject to Sauda rate today is INR 300 per application.
Is there shareholders quota
No, there is no shareholder quota in JSW Cement. The company is promoted by Jindal family members and JSW Steel is not a promoter so no question of a shareholder quota.
You can check the full list of shareholder reservation IPOs here
https://ipocentral.in/upcoming-ipos-with-shareholders-quota/
Is there jsw steel share holder quota ?
Is there jsw steel share holder quota ?