SW Cement, a subsidiary of the JSW Group, is set to launch its Initial Public Offering (IPO) to raise ₹3,600 crore, comprising a ₹1,600 crore fresh issue and a ₹2,000 crore offer-for-sale by existing shareholders including AP Asia Opportunistic Holdings, Synergy Metals Investments, and SBI. The IPO opens for public subscription on August 7, 2025, and closes on August 11, 2025, with allotment expected by August 12 and listing targeted on August 14, 2025, on NSE and BSE. The price band has been fixed at ₹139–₹147 per share, signaling strong confidence with a current grey market premium of approximately 12%, which suggests potential listing gains. Retail investors must apply for a minimum of 102 shares, requiring a minimum investment of around ₹14,178–₹14,994 depending on price band.

JSW Cement operates seven plants across India, including integrated and grinding units in key regions such as Karnataka, Andhra Pradesh, Tamil Nadu, Maharashtra, Odisha, and West Bengal. As of March 2025, its installed grinding capacity stood at 20.60 MTPA, and clinker capacity at 6.44 MTPA, with plans to nearly double these via greenfield expansions. Despite a modest revenue growth, JSW Cement reported a net loss of ₹163.77 crore in FY25, compared to a profit in the prior year, due to aggressive expansion and higher input costs. The IPO proceeds are earmarked for funding a new integrated plant in Nagaur, Rajasthan (₹800 crore), debt repayment (₹520 crore), and other corporate purposes. Positioned among the top cement manufacturers in India, the company’s green cement focus—including high GGBS market share—sustainability credentials, and pan-India distribution network offer an attractive growth narrative amid infrastructure momentum