A big opportunity has come to invest in the Sajjan Jindal-led JSW Group. JSW Cement has decided to bring an IPO of Rs 4000 crore. The company has submitted the documents related to the IPO to market regulator SEBI on Friday. With this IPO of JSW Cement, the race for supremacy in the cement segment will intensify. There has been a fierce battle between Aditya Birla Group and Adani Group in the cement sector for some time now.
Listing Of JSW Cement Will Change The Market
According to a Bloomberg News report, the listing of JSW Cement will significantly change the company’s market share. The company had already expressed its desire to get listed in the market in 2024. JSW Group’s energy, port, and steel companies are already listed. Some time ago, JSW Infrastructure was also listed on the stock market.
Will Spend Rs 3000 Crore On Cement Plant In Rajasthan
Parth Jindal, MD of JSW Cement, said in August last year that we must achieve 60 million tonnes of production capacity. For this, JSW Cement needs to be listed on the market. The company’s production capacity is 20.60 million tonnes per annum (MTPA). Currently, the company is in the country’s southern, eastern and western states. But now the company also wants to be in North and Central India. For this, the company will spend about Rs 3000 crore on a greenfield cement plant in the Nagaur district of Rajasthan.
Rs 1500 Crore Was Taken From Private Equity Investors
JSW Cement raised Rs 1500 crore in July 2021 from private equity investors Apollo Global Management and Synergy Metals Investments Holding. At that time, the company also said that the valuation of this investment would be decided at the time of the IPO. This IPO could stir other companies in the cement sector. Adani Group has recently made several acquisitions and plans to merge its cement business. On the other hand, UltraTech is also trying to maintain its number one position, given the challenge.
