The allotment process of JSW Cement was finalised August 12, just a day after the bidding window closed. The Rs 3,600 crore public issue ran from August 7 to August 11.
Let’s take a look at the key details of the issue –
Subscription numbers
The IPO saw overall subscription of 7.77 times. The qualified institutional buyers (QIBs) led the charge, bidding 15.80 times their reserved quota.
Non-institutional investors (NIIs) portion received 10.97 times subscription. Similarly, the retail investors booked 1.81 times of their share.
Listing date and price band
JSW Cement shares are set to make their debut on BSE and NSE on August 14. The IPO was priced in Rs 139 to Rs 147 per share range, with investors needing to apply for at least 102 shares, an investment of Rs 14,718 at the upper end of the band.
How the funds will be used
Out of the total Rs 3,600 crore, the fresh issue component of Rs 1,600 crore will fund a new integrated cement unit in Nagaur, Rajasthan, repay certain borrowings, and support general corporate needs.
Key players of the issue
The book-running lead managers for the IPO were Axis Capital, Kotak Mahindra Capital Company, ICICI Securities, HSBC Securities and Capital Markets, and IIFL Securities. KFin Technologies is handling the share allotment process.
About the company
JSW Cement, in FY25, it sold 7.09 million tonnes of cement and 5.2 million tonnes of GGBS, operating at 63% grinding capacity and 84% clinker capacity.
JSW Cement IPO Allotment Status Live: Updated GMP
JSW Cement IPO’s latest GMP is Rs 4.5, as of August 13, 2025, 08:54 PM. Based on the price band of Rs 147.00, the estimated listing price is Rs 151.5 (cap price plus today’s GMP). This translates to an expected gain of 3.06% per share.
JSW Cement IPO Allotment Status Live: Updated GMP
JSW Cement IPO’s latest GMP is Rs 4.75, as of August 13, 2025, 07:32 PM. Based on the price band of Rs 147.00, the estimated listing price is Rs 151.75 (cap price plus today’s GMP). This translates to an expected gain of 3.23% per share.
JSW Cement IPO Allotment Status Live: About the company
JSW Cement Limited, established in 2006 as part of the JSW Group, is a leading producer of green cement in India with a strong focus on sustainability and innovation. The company operates seven plants nationwide, including an integrated unit in Nandyal (Andhra Pradesh), a clinker unit under majority-owned Shiva Cement Limited in Odisha, and five grinding units in Vijayanagar (Karnataka), Salem (Tamil Nadu), Dolvi (Maharashtra), Salboni (West Bengal), and Jajpur (Odisha). As of March 31, 2025, JSW Cement’s installed grinding capacity stood at 20.60 million metric tonnes per annum (MMTPA), comprising 11.00 MMTPA in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region.
JSW Cement IPO Allotment Status Live: Price band
The JSW Cement IPO price band is set at Rs 147.00 per share. The lot size for an application is 102 shares. The minimum investment required for a retail investor is Rs 14,178 (102 shares). For a small and medium-sized institutional investor (sNII), the lot size is 14 lots (1,428 shares), amounting to Rs 2,09,916. For a big institutional investor (bNII), the lot size is 67 lots (6,834 shares), amounting to Rs 10,04,598
JSW Cement's revenue decreased by 3% and profit after tax (PAT) dropped by 364% between the financial year ending on March 31, 2025, and March 31, 2024.
JSW Cement IPO Allotment Status Live: Subscription details
The JSW Cement IPO is subscribed 8.22 times on August 11, 2025 5:04:35 PM (Day 3). The public issue subscribed 1.91 times in the retail category, 16.71 times in the QIB category, and 11.60 times in the NII category
JSW Cement IPO Allotment Status Live: Updated GMP
The last GMP for the JSW Cement IPO is Rs 4.75, last updated on August 13th, 2025, at 04:29 PM. With a price band of Rs 147.00, the estimated listing price for the JSW Cement IPO is Rs 151.75. The expected percentage gain/loss per share is 3.23
JSW Cement IPO Allotment Status Live: Promoters of the company
Sajjan Jindal, Parth Jindal, Sangita Jindal, Adarsh Advisory Services Private Limited and Sajjan Jindal Family Trust are the company promoters.
JSW Cement IPO Allotment Status Live: Overview of the company
JSW Cement, part of the diversified JSW Group, is engaged in producing green cement. As of March 31, 2025, the company operated seven manufacturing plants with a total installed grinding capacity of 20.60 million tonnes per annum
JSW Cement IPO Allotment Status Live: Price band
The JSW Cement IPO price band is set at Rs 147.00 per share. The lot size for an application is 102 shares. The minimum investment required for a retail investor is Rs 14,178 (102 shares). For a small and medium-sized institutional investor (sNII), the lot size is 14 lots (1,428 shares), amounting to Rs 2,09,916. For a big institutional investor (bNII), the lot size is 67 lots (6,834 shares), amounting to Rs 10,04,598
JSW Cement IPO Allotment Status Live: Important dates
JSW Cement IPO bidding started from Aug 7, 2025 and ended on Aug 11, 2025. The allotment for JSW Cement IPO was finalised on Aug 12, 2025. JSW Cement IPO will list on BSE, NSE with a tentative listing date fixed as Aug 14, 2025.
JSW Cement IPO Allotment Status Live: Bajaj Broking on JSW Cement IPO
“On the financial performance front, on a consolidated basis, the company has reported total income / net profit of Rs 59.82 billion / Rs 1.04 billion (FY23), Rs 61.15 billion / Rs 0.62 billion (FY24), and Rs 59.15 billion / -Rs 1.64 billion (FY25). If we attribute FY25 annualized earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a negative P/E. Based on FY24 earnings, the P/E stands at 319.57,” said Bajaj Broking on JSW Cement IPO.
JSW Cement IPO Allotment Status Live: Lead managers and registrar
The book-running lead managers for the issue were JM Financial, Citigroup, DAM Capital Advisors, Axis Capital, Goldman Sachs, Kotak Mahindra Capital, Jefferies India, and SBI Capital Markets. The registrar to the IPO was KFin Technologies Ltd., which handled allotment and investor queries.
JSW Cement IPO Allotment Status Live: Promoters and selling shareholders
The OFS portion saw stake sales by Apollo Management, through AP Asia Opportunistic Holdings, Synergy Metals Investments Holding Ltd, and the State Bank of India (SBI). These entities reduced part of their holdings in the company via the IPO.
JSW Cement IPO Allotment Status Live: Company overview
JSW Cement, part of the diversified JSW Group, is engaged in producing green cement. As of March 31, 2025, the company operated seven manufacturing plants with a total installed grinding capacity of 20.60 million tonnes per annum.
Proceeds from the fresh issue are placed for specific purposes. Around Rs 800 crore will go towards partially funding a new integrated cement plant at Nagaur, Rajasthan. A further Rs 520 crore will be used to repay certain borrowings. The remaining funds will be deployed for general corporate purposes.
JSW Cement IPO Allotment Status Live: Subscription details
The IPO saw strong investor participation, with an overall subscription of 7.77 times the offered shares. The Qualified Institutional Buyers (QIBs) category saw the highest interest at 15.80 times subscription, followed by Non-Institutional Investors (NIIs) at 10.97 times. The retail investors’ portion was subscribed 1.81 times.
JSW Cement IPO Allotment Status Live: Key IPO dates
The public issue opened for subscription on August 7, and closed on August 11. The allotment process was finalised on August 12, followed by refund initiation on August 13. Shares were also credited to investors’ Demat accounts on August 13, with the listing on both BSE and NSE scheduled for August 14.
JSW Cement IPO Allotment Status Live: GMP update
A day before its debut on the stock exchanges, JSW Cement is trading almost flat in the grey market at a premium of Rs 4.5 per share. This is about 3% higher than the IPO’s upper price band of Rs 147.
However, the grey market premium (GMP) is not an indicator of the actual listing price. It can change quickly, depending on market sentiment and trading activity on the listing day.
JSW Cement IPO Allotment Status Live: Price band and minimum investment
The price band for the IPO was set at Rs 139 to Rs 147 per share. For retail investors, the minimum application size was one lot, consisting of 102 shares. This translated into a minimum investment of Rs 14,178 at the upper price band.
JSW Cement IPO Allotment Status Live: IPO size and structure
The JSW Cement IPO had a total issue size of Rs 3,600 crore. This included a fresh share sale worth Rs 1,600 crore, aimed at raising new capital for the company, and an offer for sale (OFS) worth Rs 2,000 crore by existing shareholders looking to offload part of their holdings.
JSW Cement IPO Allotment Status Live: Anand Rathi on JSW Cement IPO
“On the valuation front, based on annualized FY25 earnings, a post-issue market capitalization of approximately Rs 2,00,415 million, and At the upper price band of Rs 147, the offer is made at around 36.7 times post IPO EV/EBITDA (FY25) making the issue appear aggressively priced. We believe JSW cement with its strong brand, core focus on growing GGBS product line across the North region as well giving the competitive advantage of increasing market share, strategic growth plans in grinding capacity, ease in supply & distribution and alignment with India’s sustainable infrastructure push going forward we may see profitability and returns in long run,” said the brokerage firm Anand Rathi in its IPO note.
JSW Cement IPO Allotment Status Live: Subscription status
The JSW Cement IPO was subscribed 8.22 times as of August 11, 2025, 5:04:35 PM (Day 3). The public issue saw subscription of 1.91 times in the retail segment, 16.71 times in the QIB segment, and 11.60 times in the NII segment.
JSW Cement IPO Allotment Status Live: Financial results
JSW Cement Ltd. reported a 3% decline in revenue and a sharp 364% drop in profit after tax (PAT) for the financial year ending March 31, 2025, compared to the previous year ending March 31, 2024.
JSW Cement IPO Allotment Status Live: Promoters of the company
The company promoters include Sajjan Jindal, Parth Jindal, Sangita Jindal, Adarsh Advisory Services Private Limited, and the Sajjan Jindal Family Trust.
JSW Cement IPO Allotment Status Live: Updated GMP
JSW Cement IPO’s latest GMP stands at Rs 4.4, as of August 12, 2025, 07:29 PM. With a price band of Rs 147.00, the estimated listing price is Rs 151.4 (cap price plus today’s GMP). This translates to an expected gain of 2.99% per share.
JSW Cement IPO Allotment Status Live: Important dates
JSW Cement IPO bidding began on August 7, 2025, and closed on August 11, 2025. The allotment for the IPO was finalised on August 12, 2025. The JSW Cement IPO is set to list on the BSE and NSE, with the tentative listing date scheduled for August 14, 2025.
JSW Cement IPO Allotment Status Live: About the company
Incorporated in 2006, JSW Cement Limited is a leading manufacturer of green cement in India and a part of the JSW Group. The company focuses on sustainability and innovation in the cement sector.
It operates seven plants across the country, comprising one integrated unit, one clinker unit, and five grinding units. These facilities are located in Andhra Pradesh (Nandyal), Karnataka (Vijayanagar), Tamil Nadu (Salem), Maharashtra (Dolvi), West Bengal (Salboni), and Odisha (Jajpur plant and the majority-owned Shiva Cement Limited clinker unit).
As of March 31, 2025, JSW Cement had an installed grinding capacity of 20.60 MMTPA, distributed as 11.00 MMTPA in the southern region, 4.50 MMTPA in the western region, and 5.10 MMTPA in the eastern region.
JSW Cement IPO Allotment Status Live: Updated GMP
The last GMP for the JSW Cement IPO is Rs 4.25, as of August 12th, 2025, 05:28 PM. With a price band of Rs 147.00, the estimated listing price for the JSW Cement IPO is Rs 151.25 (cap price + today's GMP). This indicates an expected percentage gain of 2.89% per share.
JSW Cement IPO Allotment Status Live: Promoters of the company
Sajjan Jindal, Parth Jindal, Sangita Jindal, Adarsh Advisory Services Private Limited and Sajjan Jindal Family Trust are the promoters of the company