JSW Cement shares list at 4% premium over IPO price on BSE, NSE

The Rs 3,600 crore IPO saw a healthy investor response. The book-built issue, which ran from August 7 to August 11, was subscribed nearly eight times overall, driven largely by institutional demand.

Priced at Rs 147 per share, the IPO comprised a fresh issue of 10.88 crore shares worth Rs 1,600 crore and an offer for sale of 13.61 crore shares worth Rs 2,000 crore by the promoters. Ahead of the launch, the company raised Rs 1,080 crore from anchor investors, with participation from marquee domestic and global institutions.

In the grey market, JSW Cement shares were trading at a modest premium of around 3% over the issue price. While the premium is relatively muted compared to some recent large offerings, market observers note that investor focus will be on the company’s long-term execution rather than immediate listing gains.

Part of the JSW Group, JSW Cement is a leading green cement manufacturer with seven plants across India and an installed grinding capacity of 20.6 million tonnes per annum.

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Its portfolio includes blended and ordinary Portland cement, ground granulated blast furnace slag (GGBS), clinker, and allied cementitious products. The company operates a strong distribution network of over 4,600 dealers, nearly 8,900 sub-dealers, and 158 warehouses.Proceeds from the IPO will be used to part-finance the establishment of a new integrated cement unit at Nagaur, Rajasthan, prepay or repay certain borrowings, and meet general corporate requirements.Despite a profitable track record in FY23 and FY24, JSW Cement reported a loss in FY25 — a factor analysts say could temper early market enthusiasm.With its strong brand backing, expansion plans, and focus on sustainability, the listing is expected to draw close scrutiny from both institutional and retail investors to see whether it can deliver performance beyond the opening day.