NEW DELHI: JSW Cement, part of Sajjan Jindal, has diversified advertising. JSW Grouphas received SEBI approval to raise Rs 4,000 crore through a Initial public offering (IPO), an update with the markets regulator appeared on Monday. According to the draft red herring prospectus (DRHP) filed in August last year, the initial share sale includes a fresh issue of equity shares worth Rs 2,000 crore and an offer for sale (OFS) of Rs 2,000 crore by investor shareholders.
As part of the OFS, AP Asia Opportunistic Holdings Pte Ltd and Synergy Metals Investments Holding Ltd will offload shares worth Rs 937.5 crore each, and State Bank of India (SBI) will allot shares worth Rs 125 crore. .
JSW Cement filed initial IPO papers with Sebi in August 2023 and later in September, the regulator put the company’s proposed initial share sale on hold.
On January 6, the regulator finally gave its observation on January 6.
In Sebi’s parlance, this observation means that companies should step up to address public issues.
According to the draft papers, the company will provide an amount of Rs 800 crore for part financing towards the cost of setting up a new integrated cement unit in Nagor, Rajasthan and Rs 720 crore for prepayment or outstanding loans received from it. Will use on payment. The rest will be used for general corporate purposes.
As on March 31, 2024, JSW Cement’s total liabilities stood at Rs 8,933.42 crore.
On the financial front, the company’s revenue from operations for FY24 was Rs 6,028.10 crore. It was Rs 5,836.72 crore in FY23 and Rs 4,668.57 crore in FY22. Its profit was Rs 62 crore in FY24 and Rs 104 crore in FY23.
As of March 31, 2024, it has a grinding capacity of 20.60 MTPA (million tonnes per annum) and aspires to reach a total capacity of 60 MTPA.
The company currently operates manufacturing operations at units located at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dalvi in Maharashtra.
JSW Cement operates a clinker unit in Odisha through its subsidiary Shiva Cement.
JM Financial Ltd, Axis Capital Ltd, Citigroup Global Markets India Pvt Ltd, DAM Capital Advisors Ltd, Goldman Sachs (India) Securities Pvt Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are responsible for managing the company. are The IPO process.