JSW Cement IPO: Price Band, Lot Size, Issue Size & Long-Term View | Sushil Finance
Enquire Now
×

Enquire Now

Blogs / IPO Note / JSW Cement Limited IPO: Price Band, Lot Size, Issue Size & Long-Term Investment View
By Sushil Finance
7 August 2025 • 10 MINUTES READ
JSW Cement

JSW Cement Limited IPO: Price Band, Lot Size, Issue Size & Long-Term Investment View

Share

IPO Details

Issue Opening Date: August 7, 2025
Issue Closing Date: August 11, 2025
Issue Size: ₹ 3,600 Cr (@ upper band Rs. 147)
Structure: Fresh Issue ₹ 1,600 Cr
Price Band: ₹ 760 – ₹ 800 per share
OFS: ₹ 2,000 Cr
Price Band: ₹ 139 – ₹ 147 per share
Face Value: ₹ 10
Lot Size: 102 shares & multiples thereafter

Application Amounts
Retail Min: ₹ 14,994
Retail Max: ₹ 1,94,922 (1,326)
Small HNI: ₹ 2,09,916 (1,428)
Big HNI: ₹ 10,04,598 (6,834)

Our View
Long Term investment for High Risk Investors

Company Overview

JSW Cement, part of the JSW Group, is among the top three fastest-growing cement companies in India (2015–2025). It ranks among the top 10 cement companies in India by capacity and sales volume (FY25). Installed Grinding Capacity stands at 20.60 MMTPA across southern, western, and eastern India, with rights to 11 limestone mines.

It is India’s largest manufacturer of ground granulated blast furnace slag (GGBS), with an 84% market share in FY25. The company operates 7 plants in India and 1 clinker unit in the UAE, and maintains the lowest CO₂ emission intensity among peers.


Key Highlights

India’s largest manufacturer of GGBS with proven scale-up track record
Top 10 cement company in capacity and volume
Strategically located plants with logistics advantage
Lowest CO₂ emission intensity among peers globally
Strong distribution network and brand presence
Part of the reputed JSW Group

Objects of the Issue

Establishing new integrated cement unit at Nagaur, Rajasthan (₹800 Cr.)
Repayment/prepayment of borrowings (₹520 Cr.)
General corporate purposes
OFS ₹2,000 Cr (no proceeds to company)

Our View & Risks

JSW Cement focuses on sustainable “green cement.” Expansion plans aim to double grinding and clinker capacity, creating a pan-India footprint.

Risks: Highly regulated industry, high debt, geographic concentration, raw material supply risk, limestone dependency, and project execution challenges.


Financial Snapshot & Valuation

FY25 Revenue: ₹5,813 Cr.
PAT: -₹163.77 Cr.
EBITDA: ₹815.33 Cr.
EBITDA margin: 13.78%. ROCE: 7.05%
ROE: -6.9%
Debt/Equity: 0.98x. Profitability has declined due to expansion and cost pressures.

The IPO is priced at P/BV 6.16 (NAV Rs. 23.85). Asking price implies negative P/E. Only suitable for cash-rich, high-risk investors seeking long-term exposure to India’s infrastructure and green projects theme.

Quick FAQs — JSW Cement IPO

What are the IPO dates and lot size?
Opens Aug 7, 2025
Closes Aug 11, 2025
Lot size 102 shares.
What is JSW Cement’s capacity expansion plan?
Plans to expand grinding capacity from 20.60 to 41.85 MMTPA and clinker capacity from 6.44 to 13.04 MMTPA.
What is Sushil Finance’s recommendation?
Long Term investment for High Risk Investors.

Brief Financials

PARTICULARS ₹ in Million
FY ‘25 FY ’24 FY ‘23
Total Income 59,146.65 61,145.96 59,822.09
Total Expenditure 58,598.35 58,082.10 58,386.77
EBITDA 8,153.23 10,356.56 8,269.65
Profit before Tax (436.43) 2,243.58 1,248.44
Profit after Tax (1,637.69) 620.13 1,040.38
E.P.S. (Diluted) (1.16) 0.90 1.37
P/E (x) (Diluted) - - -
RONW (%) (4.85) 3.64 5.97

PRICE CHART (@ ₹ 147) (Retail Category)

LOT SIZE
Amount
102 14,994
204 29,988
306 44,982
408 59,976
510 74,970
612 89,964
714 104,958
816 119,952
918 134,946
1,020 149,940
1,122 164,934
1,224 179,928
1,326 194,922

HNI Payment Chart

Category
No. of Shares Minimum Bid Lot Amount (Rs.)
Small HNI 1,428 209,916
Big HNI 6,834 1,004,598

Indicative Time Table

Tentative Events
Indicative Dates
Finalisation of Basis of Allotment with the Designated Stock Exchange 12/8/2025
Initiation of refunds/unblocking ASBA Fund 13/8/2025
Credit of Equity Shares to demat accounts of Allottees 13/8/2025
Commencement of trading of the Equity Shares on the Stock Exchanges 14/8/2025




Disclaimer:
The content provided in this blog is for informational and educational purposes only and should not be construed as investment, legal, or tax advice. While Sushil Finance makes reasonable efforts to ensure accuracy and reliability of the information, we do not guarantee its completeness or timeliness. Readers are advised to consult with their financial advisor before making any investment decisions. Sushil Finance shall not be held responsible for any direct or indirect loss arising from use of this content. Investments in securities are subject to market risks. Read all scheme-related documents carefully before investing.


Checkout More Blogs
IPO Note
News & Views

ATTENTION INVESTORS:
Short Sell Reporting • || • Precautions for clients dealing in options • || • Investor Charter : Annexure A – Stock Broker | Annexure A – Research Analyst (RA) | Annexure A – DP | Annexure B - DP • || • Advisory for KYC updation • || • Advisory for Investors • || • Investor Awareness regarding the revised guidelines on Margin Collection • || • Link your Aadhar number with us here. • || • IPO Subscription: " UPI Mechanism is Compulsory for Retail Investors. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account." • || • Prevent Unauthorized Transactions in your Demat Account remains in investor's account." • || • Prevent Unauthorized Transactions in your Demat Account- Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile number for all debit and other important transactions in your demat account directly from CDSL on the same day. “ISSUED IN THE INTEREST OF INVESTORS” "Prevent unauthorised transactions in your account --> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day . Issued in the interest of Investors."

About the company

Established in 1982 by Mr. Sushil N. Shah as a proprietary concern, SUSHIL FINANCE, over a period of time, has emerged as one of India’s leading Financial Services.... Read More
Sushil Connect App for Stock Recommendations QR Code Savashare Mobile Trading App for Stock Trading QR Code


"Gain key market insights and stay informed with a real-time Economic Calendar that tracks major global financial events"
Registered Office : Sushil Financial Services Private Limited., 12, Homji Street Fort Mumbai-400 001 • Tel. No. +91-22-40936000Fax No. +91-22-22665758Email: info@sushilfinance.com

KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. Receive alerts on your Registered Mobile number for all debit and other important transactions in your demat account directly from CDSL on the same day. Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day.

Sushil Financial Services Private Limited - CIN No. U67120MH1991PTC063438- Member : BSE/ NSE. SEBI Registration No. - INZ000165135.. Depository Participant (CDSL) SEBI Registration No.- IN-DP-504-2020. Research Analyst SEBI Registration No.- INH000000867. BSE Enlistment no for RA : 5051. IPO Distributor. AMFI Registered Mutual Fund Distributor ARN No. 77875 Registered Since : 04-Jan-2010 Valid till : 03-Jan-2027

Compliance Officer Details: Name: Mr. Suresh Nemani, Email id: suresh.nemani@sushilfinance.com, Contact No: 022-40935000. In case of any grievances, please write to us on compliance@sushilfinance.com

Disclaimer :

For Research Analyst: Registration granted by SEBI, Enlistment as RA with Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Mutual fund investments are subject to market risks, read all scheme related documents carefully.

Protect Yourself from Fraudulent Activities: We want to ensure your safety and keep you informed. While we have not encountered any cases of impersonation involving our brand, it is important to stay vigilant. Fraudsters may misuse Sushil Finance name or Logo to promote fake brokerage schemes, investment opportunities, or other financial services. If you come across any suspicious activities or are unsure about the authenticity of an offer, please do not hesitate to contact us at : 📞 022-40934060 | 022-40934096 📧 social@sushilfinance.com Stay connected with us on our official social media platforms. Your security is our priority. Stay alert and verify any communication you receive to ensure it is from us.
Attention : We have identified a fake Telegram Channel misusing our brand name Sushil Finance. The channel is misleading and may potentially harm our brand’s reputation and misguide our clients. Fake Telegram Channel Link : https://t.me/SushilFinanceee
Request you all to report this channel immediately by clicking on the above link > Tap on the Channel Name > More with 3 dots > Select Report > Choose Scam or spam >Then choose Impersonation >This channel is impersonating our brand Sushil Finance & is engaged in spam activities. Our official channel is: https://t.me/sushilfinancecompanies

© 2025 Sushil Finance. All rights reserved.