India’s JSW Cement has priced its 36 billion rupees ($412.72 million) initial public offering between 139 to 147 rupees, a newspaper advertisement showed on Monday.
The cement arm of the steel-to-autos JSW conglomerate first filed to go public last August, but the country’s markets regulator put it on ice for four months without disclosing a reason and approved the filing only in January this year.
The firm has presence in India’s southern, eastern and western regions and operates seven plants, as of fiscal year 2025-end. Proceeds from the fresh issue is planned to fund a factory in Rajasthan, a western Indian state rich in cement’s key raw material, limestone.
IPO size has been trimmed to 36 billion rupees from 40 billion rupees, after reduction in funds to be raised by issue of fresh shares to 16 billion rupees from 20 billion rupees earlier.
Reuters
