The preliminary share sale contains a contemporary concern of fairness shares price ₹2,000 crore and a proposal on the market (OFS) of ₹2,000 crore by investor shareholders, in keeping with DRHP.
- Additionally learn: JSW Cement prepares floor for ₹6,500 cr IPO
As part of the OFS, AP Asia Opportunistic Holdings Pte Ltd and Synergy Metals Investments Holding Ltd will offload shares price ₹937.5 crore every, and State Financial institution of India (SBI) will divest shares valued at ₹125 crore.
IPO to assist finance new Nagpur unit
The corporate will utilise proceeds of ₹800 crore on “half financing the price of establishing a brand new built-in cement unit at Nagaur, Rajasthan” and ₹720 crore on “prepayment or reimbursement” of excellent borrowings availed by it.
The remainder could be used for normal company functions.
Nevertheless, the entire quantity for normal company functions shall not exceed 25 per cent of the gross proceeds, it added.
As of March 31, 2024, JSW Cement’s whole legal responsibility was at ₹8,933.42 crore.
- Additionally learn: JSW Cement to take a position ₹3000 crore in new plant in Rajasthan
Its monetary liabilities embrace a borrowing of ₹1,678.90 crore, ₹1,184.40 crore dues of collectors (apart from micro and small enterprises) and different monetary liabilities of ₹842.02 crore.
Its income from operations for FY24 stood at ₹6,028.10 crore. This was ₹5,836.72 crore in FY23 and ₹4,668.57 crore in FY22.
Its revenue for the 12 months was ₹62 crore in FY24 and ₹104 crore in FY23.
As of March 31, 2024, it has an put in grinding capability of 20.60 MTPA (million tonnes each year) and has an ambition “to achieve an mixture capability of 60 MTPA”.
The corporate presently operates manufacturing operations at items based mostly at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Maharashtra.
JSW Cement is the sixth largest participant within the phase led by Aditya Birla Group flagship agency UltraTech Cement.
The sector is witnessing consolidation, and the highest 5 gamers – UltraTech Cement, Shree Cement, Ambuja Cement (together with ACC Ltd), Dalmia Bharat and Nuvoco Vistas account for roughly 54 per cent of the entire market share in FY24.
UltraTech and Adani Group’s Ambuja Cement are pacing up their capability via acquisitions and brownfield expansions.
With the acquisition of Kesoram Cement and India Cements, together with ongoing enlargement initiatives, UltraTech expects its whole cement capability to surpass the 200 MTPA goal by FY27 from its current 150 MTPA plus capability.
Adani group, which jumped into the cement sector in September 2022, after buying Ambuja Cement from Swiss agency Holcim for money proceeds of $6.4 billion (about ₹51,000 crore) has additionally arrange a goal to attain a 140 MTPA capability by FY28.
Gautam Adani-led group owns ACC Ltd and bought Sanghi Industries and ACCPL and is presently the second largest cement maker. It introduced the acquisition of Hyderabad-based Penna Cement in June at an enterprise worth of Rs 10,422 crore, taking its capability to 93 MTPA.
In addition to, JSW Cement via its subsidiary Shiva Cement operates a clinker unit in Odisha.
JM Monetary Ltd, Axis Capital Ltd, Citigroup World Markets India Non-public Ltd, DAM Capital Advisors Ltd, Goldman Sachs (India) Securities Non-public Ltd, Jefferies India Non-public Ltd, Kotak Mahindra Capital Firm Ltd and SBI Capital Markets Ltd are answerable for managing the corporate’s IPO course of.
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