IPO Next Week: 11 Issues To Hit Street, JSW Cement’s Rs 3,600 Crore Offer In Focus—Check Full List And Dates

IPO Next Week: The IPO market is set for a busy week ahead with JSW Cement’s Rs 3,600-crore IPO taking centre stage. Opening from August 7 to August 11, it will be one of the key mainboard issues to watch. JSW Cement, part of the Sajjan Jindal-led JSW Group.

The issue will remain open for public subscription until August 11, while anchor investors will be able to place their bids on August 6, according to the Red Herring Prospectus (RHP) filed by the company.

JSW Cement IPO: Structure and Offer for Sale

The IPO will comprise a fresh issue of shares worth Rs 1,600 crore and an offer for sale (OFS) of Rs 2,000 crore by existing investors. As part of the OFS, Apollo Management, through its affiliate AP Asia Opportunistic Holdings, will sell shares valued at Rs 931.80 crore, while Synergy Metals Investments Holding will divest shares worth Rs 938.50 crore. 

Additionally, State Bank of India (SBI) will offload shares worth Rs 129.70 crore.

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JSW Cement IPO: Use of Proceeds

The proceeds from the IPO will primarily be used to fund the company’s expansion plans and strengthen its financial position. Around Rs 800 crore will be allocated to partially finance a new integrated cement unit at Nagaur in Rajasthan, while Rs 520 crore will be used to prepay or repay outstanding borrowings. 

The remaining funds will be utilised for general corporate purposes.

JSW Cement IPO: Background and Regulatory Approval

Initially, JSW Cement had planned a larger Rs 4,000-crore IPO, comprising a fresh issue of Rs 2,000 crore and an OFS of Rs 2,000 crore. However, the fresh issue size was later reduced by Rs 400 crore. The company first filed preliminary papers with SEBI in August 2024, but the proposal was temporarily kept on hold in September. 

It finally received the regulator’s approval to launch the IPO on January 6, 2025.

JSW Cement IPO: Financial Performance

On the financial front, JSW Cement reported revenue of Rs 5,813.1 crore in FY25, slightly lower than Rs 6,028.1 crore in FY24 and Rs 5,836.7 crore in FY23. The company posted a net loss of Rs 163.77 crore in FY25, compared to a profit of Rs 62 crore in FY24 and Rs 104 crore in FY23. 

Its total borrowings stood at Rs 6,166.6 crore as of March 31, 2025.

JSW Cement IPO: Business Operations and Capacity

JSW Cement has an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA) as of March 31, 2025. It is India’s largest manufacturer of ground granulated blast furnace slag (GGBS), with an 84 per cent market share in FY25, according to a CRISIL report. 

The company operates manufacturing units in Karnataka, Andhra Pradesh, West Bengal, Odisha, and Maharashtra, and it also runs a clinker unit in Odisha through its subsidiary, Shiva Cement.

JSW Cement IPO: Bookrunners and Listing

The IPO will be managed by JM Financial, Axis Capital, Citigroup Global Markets, DAM Capital Advisors, Goldman Sachs India, Jefferies India, Kotak Mahindra Capital, and SBI Capital Markets. Following the IPO, JSW Cement’s shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

IPO Next Week

Several IPOs are lined up for next week across both the SME and mainboard segments. In the SME space, multiple issues will open for subscription, including Bhadora Industries, Parth Electricals & Engineering, Jyoti Global Plast, Aaradhya Disposal Industries, BLT Logistics, and Essex Marine, all scheduled between August 4 and August 6.

Followed by Highway Infrastructure and Knowledge Realty Trust REIT from August 5 to August 7, and Sawaliya Foods Products and ANB Metal Cast later in the week.

On the mainboard, two significant offerings will hit the market: JSW Cement’s Rs 3,600-crore IPO, opening from August 7 to August 11, and Knowledge Realty Trust REIT’s Rs 4,800-crore issue, which will run from August 5 to August 7. 

These listings are expected to keep the IPO market active and offer investors a mix of SME and large-cap opportunities.