JSW Cement Stock Opens at Premium, Stabilizes Quickly Amid Cautious Trading
JSW Cement IPO raises ₹3,600 cr, shares open strong but trade flat; funds to fuel expansion, debt cut, green cement growth
JSW Cement Listing: SBI Gains 125% Pre-IPO, Stock Settles Near Issue Price
Mumbai, August 14, 2025 — JSW Cement Ltd shares listed on Thursday at a modest premium but quickly erased most gains, reflecting cautious investor sentiment despite strong IPO demand.
♦ Listing price: ₹153 on BSE (+4.1%) and ₹153.50 on NSE (+4.4%) versus the issue price of ₹147.
♦ Current trade: ~₹151–₹152, trimming early gains to just ≈3%.
♦ Funds raised: ₹3,600 crore through a heavily oversubscribed issue (≈7.8× overall).
Robust demand but tempered listing performance
The IPO, open from August 7–11, saw QIB bids ~16×, non-institutional investors ~11×, and retail investors ~2× subscribed. Proceeds will fund a ₹800 crore integrated cement plant in Nagaur, Rajasthan, ₹520 crore debt repayment, and other corporate purposes.
JSW Cement is India’s largest producer of ground granulated blast furnace slag (GGBS) — a green cement product — holding an 84% market share in FY25. The company operates facilities in Karnataka, Andhra Pradesh, West Bengal, Odisha, and Maharashtra, ensuring pan-India presence.
SBI’s pre-IPO windfall
State Bank of India booked a 125% return, converting a ₹57.75 crore investment into a ₹78 crore profit even before the stock hit the market, underscoring strong institutional appetite.
Analyst outlook
Market experts suggest that the muted listing reflects valuation caution rather than weak fundamentals. Analysts recommend a long-term view, citing JSW Cement’s expansion strategy, eco-friendly product portfolio, and synergies with the JSW Group.
IPO managers
The public issue was led by top investment banks including JM Financial, Axis Capital, Citi, DAM Capital, Goldman Sachs India, Jefferies India, Kotak Mahindra Capital, and SBI Capital Markets.
