JSW Cement IPO - Listing Performance & Details

JSW Cement Limited was incorporated in 2006 and is headquartered in Mumbai, Maharashtra. It works in the cement sector as part of the JSW Group, manufacturing cement and cementitious products marketed as environmentally friendly.

The company manufactures cement, Ground Granulated Blast Furnace Slag (GGBS), other cementitious products, aggregates, additives and ready-mix concrete. It is India's largest manufacturer of GGBS, holding about an 84% market share in FY25, with GGBS making up over 41% of total volume sold. It operates seven plants across Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra, West Bengal and Odisha, and had a grinding capacity of 20.60 MTPA as of FY25, with plans to expand to about 41.85 MTPA, including a new integrated unit at Nagaur, Rajasthan. The company sold a total volume of 12.64 MMT in FY25, comprising 7.09 MMT of cement and 5.18 MMT of GGBS, and derives part of its revenue from group companies such as JSW Steel. The promoters are Sajjan Jindal, Parth Jindal, Sangita Jindal and Adarsh Advisory Services Private Limited.

The IPO was a mainboard book-built issue of Rs 3,600 crore on the NSE and BSE, comprising a fresh issue of Rs 1,600 crore and an offer for sale of Rs 2,000 crore, priced at Rs 139-147 per share, and it listed in mid-August 2025. Net proceeds from the fresh issue were earmarked for repayment of loans (about 32.50% of proceeds) and general corporate purposes (about 17.50%), with the balance for capacity expansion, as per the RHP. The company later reported consolidated revenue from operations of Rs 1,894.99 crore and profit after tax of Rs 361.65 crore for the quarter ended March 2026.