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JSW Cement to launch ₹4,000-cr IPO in 2024
Mint Mumbai
|September 01, 2023
The firm plans to utilize IPO proceeds to fund its expansion plan
JSW Cement is planning an initial public offering (IPO) in 2024 to raise as much as ₹4,000 crore, Parth Jindal, managing director of JSW Cement Ltd, said in an interview.
“In 2024, we are planning to take this company public, for which we will be filing the DRHP (draft red herring prospectus) in the next six months. We will be timing the market listing after the national elections," Jindal added.
“We plan to raise ₹3,500-4,000 crore through the IPO route. We are looking at diluting 10-15% in round one, and then over the next two years, dilute the entire 25% that we are obligated to do under the Sebi (Securities Exchange Board of India) guidelines. It will give us enough ammunition to fulfil our organic ambitions."
This story is from the September 01, 2023 edition of Mint Mumbai.
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