JSW Cement Ltd launched its stock market presence on Thursday, 14 August 2025, with shares listed at ₹153.50 on the National Stock Exchange (NSE), representing a 4% increase from the issue price of ₹147. Similarly, the stock opened at ₹153 on the Bombay Stock Exchange (BSE), also marking a 4% premium over the issue price.
The JSW Cement IPO was open for subscription from 7 to 11 August 2025, and was oversubscribed 7.77 times during the three-day bidding process. The price range for the IPO was set between ₹139 and ₹147 per share. The demand came from various investor categories, with Qualified Institutional Buyers (QIBs) subscribing 15.80 times, Non-Institutional Investors (NIIs) subscribing 10.97 times, and retail investors subscribing 1.81 times.
IPO Details and Financial Highlights
The JSW Cement IPO raised approximately ₹3,600 crore, with ₹1,600 crore from a fresh issue and ₹2,000 crore from an offer for sale. The funds raised will be primarily used for the construction of a new integrated cement unit in Nagaur, Rajasthan (₹800 crore), debt repayment (₹520 crore), and other corporate purposes.
For FY25, the company posted revenue of ₹5,813 crore, a slight decline from ₹6,028 crore in FY24. However, JSW Cement reported a net loss of ₹163.8 crore for FY25, compared to a profit of ₹62 crore in FY24 and ₹104 crore in FY23. The company maintained an EBITDA margin of 13.78% in FY25.
Company Overview and Capacity Expansion Plans
JSW Cement, established in 2009, has quickly positioned itself as one of India’s top three fastest-growing cement manufacturers, with a significant share in both grinding capacity and sales volume. According to CRISIL, JSW Cement ranks among the top 10 cement companies in terms of installed capacity and sales volume as of March 2025.
The company has ambitious capacity expansion plans. It intends to significantly increase its grinding and clinker capacities over the coming years.
| Capacity | Current (mt) | Proposed (mt) |
| Grinding | 20.6 | 41.85 |
| Clinker | 6.44 | 13.04 |
Market Valuation
At the time of listing, JSW Cement had a market capitalisation of ₹20,041 crore. This robust market valuation reflects investor confidence in the company’s strong foundation and long-term growth prospects within India’s expanding infrastructure and cement sectors.
Conclusion
The JSW Cement IPO made a solid debut with shares listing at a 4% premium over the issue price. Despite a dip in financial performance for FY25, the company’s expansion plans, strong market position, and alignment with India’s growing infrastructure needs suggest positive long-term prospects. Investors will continue to monitor JSW Cement as it expands its capacity and strengthens its position in India’s competitive cement market.
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