JSW Cement came to market through an IPO that opened on 7 August 2025 and closed on 11 August 2025, and the shares listed on 14 August 2025 on BSE, NSE. The price band was ₹139 to ₹147 per share and one lot was 102 shares, so the minimum application was ₹14,994. The issue size was ₹3600 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Limited was the registrar to the issue, and Jm Financial Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Goldman Sachs (India) Securities Private Limited, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited were the lead managers.
As of 11 August 2025.
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JSW Cement Limited, which was incorporated in 2006, is an Indian green cement manufacturer. Being a member of the JSW Group, the organization works on sustainability and innovation in the cement sector. The organizational product line consists of Portland Slag Cement (PSC), Ground Granulated Blast Furnace Slag (GGBS), and Composite Cement.
The firm had seven plants spread throughout the nation, comprising one integrated plant, one clinker plant, and five grinding plants in Andhra Pradesh (Nandyal plant), Karnataka (Vijayanagar plant), Tamil Nadu (Salem plant), Maharashtra (Dolvi plant), West Bengal (Salboni plant), and Odisha (Jajpur plant and majority-owned Shiva Cement Limited clinker plant).
As of 31st March, 2024, JSW Cement Limited had an installed grinding capacity of 20.60 MMTPA, of which 11.00 MMTPA were located in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region of India. JSW Cement Limited markets its products through a well-connected network. As of 31st March, 2024, there were 5,043 dealers, 10,412 sub-dealers, and 164 warehouses in the distribution network of the company.
As described in the offer document.
| Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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JSW Cement IPO: Institutional investors purchase Rs 1,080 crore worth of shares through anchor book. Marquee global investors such as Nomura Funds, Blackrock, Stichting Depository APG, UBS Fund Management, Government of Singapore, Government Pension Fund Global, Principal Funds, Abu Dhabi Investment Authority, Amundi Funds, Morgan Stanley, Kuwait Investment Authority, Florida Retirement System, Societe Generale, Neuberger Berman, and Goldman Sachs acquired stake in the cement firm through anchor book.
Domestic institutional investors such as SBI Mutual Fund, SBI Life Insurance Company, Nippon Life India, Aditya Birla Sun Life AMC, Tata Mutual Fund, Motilal Oswal Mutual Fund, Baroda BNP Paribas MF, Chartered Finance & Leasing, Axis Max Life Insurance, PGIM India, Abakkus Asset Manager, and Edelweiss Life Insurance also invested in the firm.
Sajjan Jindal, Parth Jindal, Sangita Jindal, Adarsh Advisory Services Private Limited, Sajjan Jindal Family Trust.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
JSW Cement IPO was a ₹3,600 crore book-built issue, comprising a fresh issue of ₹1,600 crore and an offer for sale of ₹2,000 crore. It was priced at ₹139–₹147 per share with a lot size of 102 shares (₹14,994). The IPO was open from August 7 to August 11, 2025 and was subscribed 8.22x. Shares listed on BSE and NSE on August 14, 2025 at ₹153.50, a 4.4% premium to the issue price of ₹147.
Kfin Technologies Limited is the registrar. Jm Financial Limited and 7 other book running lead managers manage the issue.
The price band of JSW Cement IPO is ₹139 to ₹147 per share.
The lot size of JSW Cement IPO is 102 shares.
The minimum investment for JSW Cement IPO is approximately ₹14,994 based on the upper price band.
The allotment date of JSW Cement IPO is Aug 12, 2025.
JSW Cement IPO's final recorded GMP before listing was ₹4 per share (a 3% premium over the ₹147 upper price band). The shares listed at ₹153.5. GMP is unofficial and does not forecast or guarantee the actual listing price.
JSW Cement IPO listed on Aug 14, 2025. It was issued at ₹153.50(NSE) and is currently around ₹115.56 as on 30-Oct-2026 3:30 PM, which is approximately -21.4% versus issue price. The 52-week high is ₹143.40.
You can check JSW Cement IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the JSW Cement IPO allotment status on Rupix for quick and easy access.
₹139 to ₹147 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 102 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,994.
₹14,994, for one lot of 102 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 7 August 2025 and closed on 11 August 2025.
The basis of allotment was published on 12 August 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 14 August 2025 on BSE, NSE.
The issue size was ₹3600 crore. The fresh issue was 10,88,43,537 shares (aggregating up to ₹1600 crore). The offer for sale was 13,60,54,421 shares (aggregating up to ₹2000 crore).