India’s markets regulator, the Securities and Exchange Board of India (SEBI), has granted approval to JSW Cement for its ₹4,000-crore initial public offering (IPO), as per a notification on SEBI’s website. This approval comes four months after the IPO was put on hold for undisclosed reasons.

JSW Cement, a part of the diversified JSW Group, had filed for its IPO in September 2024. The offering is structured to include fresh share issuances worth ₹2,000 crore and a similar sale of shares by existing shareholders.

This IPO aligns with India’s thriving capital market. In 2024, the country witnessed a record-breaking ₹1.6 trillion raised through 91 IPOs, according to analytics firm Prime Database. The bullish sentiment is expected to persist in 2025, providing favorable market conditions for companies like JSW Cement to go public.

Details of JSW Cement’s IPO

JSW Cement, the cement arm of the steel-to-energy conglomerate JSW Group, is set to raise funds through a ₹4,000 crore IPO. The offering is structured as follows:

Fresh Issue: ₹2,000 crore will be raised through the issuance of new shares.
Offer for Sale (OFS): Existing shareholders will offload shares worth ₹2,000 crore.

Record IPO Activity in 2024

The approval comes in the backdrop of a record year for IPOs in India:

2024 IPO Highlights:
- 91 large companies went public.
- A record ₹1.6 trillion was raised, according to analytics firm Prime Database.
2025 Outlook: The strong momentum is expected to continue, reflecting investor confidence in India’s growth story.

Market Timing and Challenges

JSW Cement’s IPO comes at a time when the earnings of listed cement companies have been impacted by depressed prices and a cooling demand environment. Despite these challenges, the company is capitalizing on the country’s long-term growth trajectory in the construction and infrastructure sectors.

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