JSW Cement, the Sajjan Jindal led-company, has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise ₹4,000 crore through an initial public offering (IPO).
The issue comprises a fresh issue of shares of ₹2,000 crore and an offer for sale (OFS) of a similar amount.
Under OFS, the selling shareholders include AP Asia Opportunistic Holdings Pte. Ltd, Synergy Metals Investments Holding Limited and State Bank of India.
While AP Asia Opportunistic Holdings and Synergy Metals will sell shares worth ₹937.50 crore, SBI will divest shares worth ₹125 crore.
The draft red herring prospectus said the company had an installed grinding capacity of 20.60 million tonnes (mt) consisting of 11mt in the South, 4.50mt in West and 5.10mt in the East.
As of March 31, 2024, it had an installed clinker capacity of 6.44mt.
The company said the majority of its capacity have been developed organically by its in-house project management team. The company is undertaking expansion plans across India, including in the north and central regions.
