JSW Cement Ltd.JSWCEMENT₹146.07 -0.63%

Shares of JSW Cement Ltd., part of the JSW Group, made a modest debut on the stock exchanges on Thursday, August 14, 2025, following strong demand for its IPO. The stock opened at ₹153.50 on the NSE, a 4.42% premium to the issue price of ₹147, and at ₹153 on the BSE, a 4% premium. 

The IPO, open between August 7 and August 11, attracted over 12.75 lakh applications and was subscribed 7.77 times overall. The Qualified Institutional Buyers (QIB) segment led the demand, with subscriptions at 15.80 times, followed by Non-Institutional Investors (NIIs) at 10.97 times, while the Retail Investors’ category was booked 1.81 times.

The public offer raised ₹3,600 crore, comprising a fresh issue of ₹1,600 crore and an offer for sale worth ₹2,000 crore. The funds will be allocated towards setting up a new cement unit, repaying debt, and meeting general corporate expenses. At the upper end of the price band (₹147), the company’s post-issue market capitalisation stands at ₹20,041 crore.

Founded in 2009, JSW Cement has grown into one of India’s top 10 cement manufacturers by installed capacity and sales volume, with a presence in southern, western, and eastern India, as well as the UAE. As of March 31, 2025, it had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) and installed clinker capacity of 6.44 MMTPA. The company is currently expanding to achieve 41.85 MMTPA grinding capacity and 13.04 MMTPA clinker capacity, targeting a pan-India footprint.

JSW Cement is also India’s largest manufacturer of ground granulated blast-furnace slag (GGBS), an eco-friendly cementitious material, with an 84% market share in FY25. In the same fiscal year, 77.41% of its sales volume came from green cementitious products, underscoring its sustainability focus. The company’s carbon dioxide emission intensity in FY25 was 258 kg per tonne, 52% lower than the Indian peer average, according to a CRISIL report.

Its plant network spans strategically located sites near raw material sources, including limestone mines and steel plants, ensuring cost-efficient supply chains. As of March 31, 2025, the company held rights to mine over 1,089 million metric tonnes of limestone in India and 193.58 MMT in the UAE. It also operates through a strong distribution network of 4,653 dealers, 8,844 sub-dealers, and 158 warehouses.

By market close on listing day, the stock settled at ₹146.07, down 0.63% from its opening price. 

Note: The stock price mentioned is as of 3:30 pm.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.