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15 Days Price Change

JSW Cement IPO

Closing In

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Profile
Issue Size 2665.04 Cr
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Price Range 139  to  147 per share
Profile
Min Investment ₹147
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Lot Size 1
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Face Value ₹10
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Draft Prospectus
Invest Before the IPO Goes Live

Buy unlisted shares early and participate in the growth before public listing.

Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We are the fastest growing cement manufacturing company in India in terms of increase in installed grinding capacity and sales volume from Fiscal 2014 to Fiscal 2024 (among the top 10 cement manufacturing companies in terms of installed capacity), according to the CRISIL Report. Over this period, our installed grinding capacity and sales volume grew at a compound annual growth rate (“CAGR”) of 14.14% and 19.06% respectively, as compared to the industry average CAGR of 7.31% and 7.56% respectively according to the CRISIL Report. We are also the fastest growing cement manufacturing company in terms of increase in sales volume within India from Fiscal 2023 to Fiscal 2024 (among the top 10 cement manufacturing companies in terms of installed capacity), and our sales volume has increased by 31.11%, excluding volume sold from JSW Cement FZC in Fiscal 2023, during the period as compared to the industry average of 6.35% according to the CRISIL Report. Read More

Basic Info

Face Value 10 per share

Price 139  to  147 per share

P/E (x) -122.5

Sales( Cr.) 5813

PAT( Cr.) -164

EPS -1.2

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Sajjan Jindal Parth Jindal Sangita Jindal Adarsh Advisory Services Pvt Ltd. Sajjan Jindal Family Trust

Pre Issue Share Holding 96.79%

Post Issue Share Holding 72.33%

Listing Details:

Listing Price: 153

Listing Gain: 3.92%

Current Price: 129.6

Gain On Issue: 129.6 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Aug 07, 2025
Closing Date Aug 11, 2025
Allotment Aug 12, 2025
Refund Aug 13, 2025
Delivery of Shares Aug 13, 2025
Listing Date Aug 14, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 102 14,994
Retail (Max) 13 1326 194,922
S-HNI (Min) 14 1428 209,916
S-HNI (Max) 66 6732 989,604
B-HNI (Min) 67 6834 1,004,598

Objective of the Issue

1. Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan 2. Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company 3. General corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 51798561 818650266 15.8x
NII 38848921 426356022 11x
Retail 90647482 164313636 1.8x
EMP 0 0 0x
Total 181294964 1409319924 7.8x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

JSW Cement Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1272 1415 1717 2722 2928 3862 4669 5837 6028 5813
Other Income 18 92 24 50 40 62 195 145 86 102
Total Income 1290 1506 1741 2772 2968 3924 4863 5982 6115 5915
Total Expenditure 981 1108 1290 2282 2326 3039 3912 5155 5095 5099
Operating Profit 309 398 451 490 642 884 951 827 1019 815
Interest 133 134 195 237 268 291 315 310 435 450
Depreciation 57 54 81 116 145 179 238 373 278 310
Exceptional Income / Expenses 0 0 -10 0 0 -35 0 0 0 0
Profit Before Tax 120 210 164 137 230 379 397 125 224 -44
Provision for Tax 30 96 7 47 75 130 164 21 162 120
Profit After Tax 89 114 158 90 154 250 233 104 62 -164
Adjustments 0 0 0 10 10 9 12 33 28 50
Profit After Adjustments 89 114 158 100 165 259 244 137 90 -114
Adjusted Earnings Per Share 2 2.5 1.6 1 1.7 2.6 2.5 1.4 0.9 -1.2

JSW Cement Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 422 546 1250 1353 1526 1825 2131 2292 2465 2353
Minority's Interest 0 0 24 13 3 -7 -19 -51 -79 20
Borrowings 968 1486 1755 2120 2184 2124 4051 4646 4157 5010
Other Non-Current Liabilities -14 75 28 30 272 328 674 479 753 791
Total Current Liabilities 593 1003 1358 1630 2185 2639 2384 2771 3921 3707
Total Liabilities 1970 3111 4414 5147 6169 6909 9221 10136 11216 11881
Fixed Assets 1298 1510 2637 3079 3293 4225 4573 4645 6189 6785
Other Non-Current Assets 320 941 777 724 1492 1031 2015 3134 2377 2694
Total Current Assets 352 661 1000 1344 1385 1654 2632 2357 2651 2403
Total Assets 1970 3111 4414 5147 6169 6909 9221 10136 11216 11881

JSW Cement Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 20 18 126 295 37 114 96 165 51 118
Cash Flow from Operating Activities 300 249 427 442 723 783 339 653 1408 737
Cash Flow from Investing Activities -152 -740 -1000 -824 -765 -686 -1530 -1793 -1120 -558
Cash Flow from Financing Activities -150 599 741 125 119 -95 1260 1041 -221 -232
Net Cash Inflow / Outflow -2 108 169 -257 77 1 69 -99 67 -53
Closing Cash & Cash Equivalent 18 126 295 37 114 116 165 51 118 65

JSW Cement Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 1.98 2.53 1.6 1.01 1.67 2.62 2.48 1.39 0.91 -1.16
CEPS(Rs) 3.24 3.72 2.42 2.09 3.03 4.34 4.78 4.84 3.45 1.49
DPS(Rs) 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 9.37 11.94 12.67 13.68 15.41 18.09 21.13 22.43 24.04 22.31
Core EBITDA Margin(%) 20.3 19.32 22.39 15.01 18.82 19.25 14.35 10.87 14.12 10.97
EBIT Margin(%) 17.57 21.72 18.87 12.74 15.55 15.68 13.5 6.94 9.98 6.25
Pre Tax Margin(%) 8.34 13.26 8.63 4.66 7.18 8.88 7.53 1.99 3.4 -0.67
PAT Margin (%) 6.22 7.19 8.27 3.08 4.82 5.85 4.42 1.66 0.94 -2.52
Cash Profit Margin (%) 10.18 10.57 12.53 7.03 9.35 10.03 8.94 7.61 5.15 2.25
ROA(%) 4.53 4.49 4.19 1.89 2.73 3.82 2.88 1.08 0.58 -1.42
ROE(%) 21.13 23.76 17.65 6.95 10.76 15.12 12.03 4.84 2.71 -7.16
ROCE(%) 17.11 18.12 12.49 10.19 11.87 14.11 12.09 6.02 8.23 4.83
Receivable days 20.63 24.16 28.43 35.05 46.75 44.55 48 43.01 41.26 43.89
Inventory Days 34.9 33.95 37.06 31.65 42.16 34.53 28.04 26.46 25.52 25.35
Payable days 404.21 480.55 483.55 231.99 314.86 233.48 247.16 199.94 225.31 209.15
PER(x) 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.17 1.49 1.68 1.28 1.31 1.05 1.08 1.09 1.08 1.21
EV/Core EBITDA(x) 4.8 5.29 6.38 7.14 5.96 4.57 5.31 7.68 6.38 8.62
Net Sales Growth(%) 0 11.22 21.33 58.59 7.54 31.92 20.89 25.02 3.28 -3.57
EBIT Growth(%) 0 36.59 4.45 3.93 33.03 34.69 6.15 -38.84 51.48 -38.32
PAT Growth(%) 0 27.84 38.26 -42.75 70.87 61.91 -6.88 -55.28 -40.39 -364.09
EPS Growth(%) 0 27.84 -36.85 -36.62 64.73 57.09 -5.6 -44.07 -34.26 -227.04
Debt/Equity(x) 2.49 3.31 1.75 1.89 1.95 1.79 2.22 2.45 2.46 2.8
Current Ratio(x) 0.59 0.66 0.74 0.82 0.63 0.63 1.1 0.85 0.68 0.65
Quick Ratio(x) 0.36 0.5 0.57 0.65 0.42 0.49 0.91 0.69 0.55 0.53
Interest Cover(x) 1.9 2.57 1.84 1.58 1.86 2.31 2.26 1.4 1.52 0.9
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -4% 8% 15% 0%
Operating Profit CAGR -20% -5% 5% 0%
PAT CAGR -365% NAN% NAN% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average -7% 0% 6% 11%
ROCE Average 5% 6% 9% 12%

Company Contact Information

JSW Cement Ltd.

Sneha Bindra

+91 22 4286 3114

secretarial.jswcl@jsw.in

Jsw Centre Bandra Kurla Complex Bandra (East)

IPO Lead Manager(s)

JSW Cement Ltd.

JM Financial Ltd.

Axis Capital Ltd.

Citigroup Global Markets India Pvt Ltd.

Dam Capital Advisors Ltd. (Formerly IDFC Securities Ltd.)

Goldman Sachs (India) Securities Pvt Ltd

Jefferies India Pvt Ltd.

Kotak Mahindra Capital Co Ltd

SBI Capital Markets Ltd

Registrar Info

JSW Cement Ltd.

K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)

Karvy Selenium Tower B, Plot 31-32 Gachibowli,Financial District, Nanakramguda Hyderabad – 500032 Tel. No. 040 67161500 Fax. No. 040 23001153 E-mail: einward.ris@karvy.com Website: www.karvy.com Toll Free No. of exclusive Call Centre:1-800-345001

040 - 67162222/18003094001

einward.ris@kfintech.com

https://www.kfintech.com

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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