JSW Cement's ₹4,000cr IPO to hit markets in Aug

After finishing a slew of meetings with institutional investors in road shows, JSW Cement has finalized plans to launch its ₹4,000-crore initial public offering (IPO) in the first week of August, two people with knowledge of the development said.

- Sneha Shah & Gaurav Laghate

The company will file an updated red herring prospectus (RHP) with the market regulator by this month-end, the people added on the condition of anonymity. It had filed a draft RHP (DRHP) last August.

"The company's cement capacity stands at more than 20 million tonnes, and based on feedback from investors and bankers, it is likely to target a valuation of around ₹18,000-20,000 crore," one of the persons cited above said.

Domestic and global investment banks such as JM Financial, Axis Capital, Jefferies India, Citigroup Global Markets India, DAM Capital, Goldman Sachs India, Kotak Mahindra Capital Company, and SBI Caps have been mandated to help the company with the IPO raise.