JSW Cement Ltd.’s initial public offering entered its third and final day of bidding on Monday. The issue has been subscribed 0.56 times or 56% so far, with none of the major portions being fully booked. The price band for the IPO is set between Rs 139 and Rs 147 apiece.
The IPO size is Rs 3,600 crore, including Rs 1,600 crore via a fresh issue, while existing shareholders, including State Bank of India, will sell shares via an offer for sale aggregating up to Rs 2,000 crore.
On the upper price band, JSW Cement is valued at Rs 19,564 crore. It will be the sixth company from billionaire Sajjan Jindal-led JSW Group to be listed on the stock market. The last one was JSW Infrastructure Ltd., which went public in October 2023.
The tentative date of allotment of shares to IPO investors will be Aug. 12 and the stock will list on the bourses on Aug. 14.
