Good news for investors investing in IPO. There can be a rain of money in your house. Get ready to invest. IPO of Sajjan Jindal-led JSW Cement is coming and the company is preparing to raise 4000 crore rupees through IPO. The dates of opening of IPO have not been announced yet. Stock market regulator SEBI has given the green signal. Due to this, the process of bidding for it can start soon. In these, fresh issues of equity shares worth two thousand crores will be issued. Two thousand crores will be raised through Offer for Sale. Apollo Global Management, Synergy Metals Investment Holding and bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india will sell their shares through Offer for Sale.
First big IPO of cement sector after Nuvoco Vista
JSW Cement's IPO will be the first big IPO after Nuvoco Vista's Rs 5,000 crore IPO in august 2021. JSW Cement's IPO is coming at a time when the cement industry is caught in a tussle between Aditya Birla Group and adani Group. According to a Money Control report, JSW Cement had sought permission for the IPO in august 2017 itself.
The company claims to be green cement
JSW Cement claims itself to be a producer of green cement. Out of the amount raised from the IPO, it will set up a new cement manufacturing unit in Nagaur, rajasthan with Rs 800 crore. It will use Rs 720 crore to repay the loan. The rest of the money received from the fresh issue will be used to meet general corporate needs. JSW Cement, which started operations in South india in 2009, has seven cement plants in the country. The company is going to increase its grinding capacity from 20.60 million metric tons per annum to 40.85 million metric tons per annum. Similarly, there is a plan to increase the clinker capacity from 6.44 million metric tons to 13.04 million metric tons.
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