About Company
JSW Cement, India’s green cement manufacturer and a subsidiary company of JSW Group, came into existence in the year 2006. The company is renowned for its eco-friendly innovations and produces green products like Portland Slag Cement (PSC), GGBS, and Composite Cement.
It operates 7 manufacturing units in India, with major facilities in Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra, West Bengal, and Odisha. It had a total grinding capacity of 20.60 million metric tonnes annually as of March 31, 2024.
Backed by a robust distribution network of 5,000+ dealers, 10,000+ sub-dealers, and 164 warehouses, JSW Cement is now eyeing the capital markets for its highly anticipated IPO to fund expansion and reduce debt.
Company Snapshot:
- Among India’s top 10 cement companies by installed capacity & volume (FY25)
- Largest manufacturer of eco-friendly GGBS with 84% market share
- Operates 7 domestic plants & 1 clinker unit in UAE
- Strategic locations with proximity to limestone mines
- Lowest carbon emission intensity among global peers
Timeline & Listing Details
IPO date – 07th – 11th Aug 2025
Listing date – 14 Aug 2025
Price range – ₹139 – ₹147
Lot size 102 — ₹14994
Issue size – 3600cr
Schedule of JSW Cement
Issue open date – 07 Aug 2025
Issue close date – 11 Aug 2025
UPI mandate deadline – 11 Aug 2025 (5 PM)
Allotment – 12 Aug 2025
Refund initiation – 13 Aug 2025
Share credit – 13 Aug 2025
Listing date – 14 Aug 2025
Mandate end date – 26 Aug 2025
Financial, Pros And Cons
During FY25, operating revenue fell 3.6% to Rs 5,813 crore, and it tumbled into a net loss of Rs 164 crore from a profit of Rs 62 crore in the earlier year. At the operating level, the margin narrowed from 15.48% to 12.28%.
As of March 2025, the installed grinding capacity of JSW Cement stood at 20.60 million metric tonnes per annum with 11 MMTPA in the southern region, 4.5 MMTPA in the western region, and 5.1 MMTPA in the eastern region of India, as indicated in the offer documents.
Plant Utilisation Risk: Low utilisation manufacturing capacity can adversely impact growth and financial performance.
Pros
- JSW Cement is India’s largest manufacturer of green cement products, particularly GGBS with a market share of 84%.
Reuters - Rapid Growth: India’s leading fastest-growing cement manufacturing firm in terms of installed grinding capacity and sales volume.
- Market Leadership in GGBS: India’s largest producer of GGBS with a track record of expanding operation scale.
- Strategic Plant Locations: Plants strategically positioned in proximity to raw materials and large consumption centers, thus attaining cost-effectiveness and better access to the market.
Cons
- Limestone Dependency: Impeded or costly access to limestone can sustain business and impact profitability.
- Power & Fuel Risk: Reliable supply energy is crucial-any shortfall will affect production efficiency.
- Plant Utilisation Risk: Low utilisation manufacturing capacity will negatively affect growth and financial performance.