JSW Cement IPO

JSW Cement is among the top three fastest-growing cement manufacturers in India in terms of rise in installed grinding capacity and sales volume from FY15 to FY25, and the country’s largest manufacturer of ground granulated blast furnace slag (GGBS), an eco-friendly product produced from blast furnace slag (a by-product of the steel making process), with an 84% market share in FY25, as per a Crisil report. During FY23 to FY25, the company’s installed grinding capacity grew at a compound annual growth rate (CAGR) of 12.42% and sales volume (excluding JSW Cement FZC) at 15.05%, faster than the industry average of 6.23%. As of March 31, 2025, the company had installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA), consisting of 11 MMTPA, 4.50 MMTPA and 5.10 MMTPA in the southern, western and eastern regions of India, respectively. As of March 31, 2025, JSW Cement had 6.44 MMTPA of installed clinker capacity, including that of JSW Cement FZC. Per the RHP, the majority of JSW Cement’s capacity has been developed in-house, demonstrating its strong project execution strengths. Its plants are strategically located close to limestone mines and are well-connected by road/rail to cost-effectively source raw materials, such as blast furnace slag, coal and gypsum. Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS).​ While the proceeds from the OFS will go to the respective selling shareholders, the net proceeds from the fresh issue will be used for the following purposes:​ Part-financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan, Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed of by the company, General corporate purposes.;