JSW Cement’s ₹4000 crore IPO will get inexperienced sign from SEBI, new shares price ₹2000 crore might be issued – INA NEWS
JSW Cement IPO: JSW Cement has lastly acquired approval from capital markets regulator SEBI for its Rs 4,000 crore IPO. SEBI issued commentary letter on JSW Cement’s draft papers on January 6. SEBI had put the issuance of observations on the draft papers of JSW Cement on maintain from September 2024. SEBI’s commentary letter means approval for IPO. In November 2024, JSW Group Chairman Sajjan Jindal had informed CNBC-TV18 that JSW Cement goals to launch a Rs 4,000 crore IPO in January 2025.
The IPO will embrace new fairness shares price Rs 2,000 crore in addition to a suggestion on the market from buyers as much as Rs 2,000 crore. Buyers AP Asia Opportunistic Holdings and Synergy Metals Investments Holding will promote shares price Rs 937.5 crore on this OFS. State Financial institution of India will promote shares price Rs 125 crore.
How will the IPO cash be used?
JSW Cement intends to make use of Rs 800 crore of the proceeds from the issuance of recent shares within the IPO to partially finance the price of organising a brand new built-in cement unit in Nagaur, Rajasthan. Aside from this, the mortgage might be repaid with the assistance of Rs 720 crore. The remaining cash might be used for normal company functions.
Groww begins preparations for IPO, talks are underway with funding bankers
The corporate has already invested Rs 287.8 crore in its Nagaur Cement unit by June 2024. The entire estimated price is Rs 2,697.3 crore. The remaining quantity of the estimated price might be financed from Rs 2,409.4 crore IPO proceeds (Rs 800 crore) and mission mortgage (Rs 1,609.4 crore).
How a lot mortgage on JSW Cement
By the tip of FY2024, the entire debt of JSW Cement stood at Rs 8,933.42 crore. The service provider bankers dealing with the JSW Cement IPO might be JM Monetary, Axis Capital, Citigroup International Markets India, DAM Capital Advisors, Goldman Sachs (India) Securities, Jefferies India, Kotak Mahindra Capital Firm and SBI Capital Markets.
JSW Cement’s ₹4000 crore IPO will get inexperienced sign from SEBI, new shares price ₹2000 crore might be issued
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