Sajjan Jindal: A big opportunity has come to invest in Sajjan Jindal-led JSW Group. JSW Cement has decided to bring an IPO of Rs 4000 crore. The company has submitted the documents related to the IPO to market regulator SEBI on Friday. With this IPO of JSW Cement, the race for supremacy in the cement segment will intensify. For some time now, there has been a fierce battle between Aditya Birla Group and Adani Group in the cement sector.
The listing of JSW Cement will change the market
According to a Bloomberg News report, the listing of JSW Cement will bring a big change in the company’s market share. The company had already expressed its desire to try to get listed in the market in the year 2024. JSW Group’s energy, port and steel companies are already listed in the market. JSW Infrastructure was also listed on the stock market some time ago.
Will spend Rs 3000 crore on cement plant in Rajasthan
JSW Cement MD Parth Jindal had said in August last year that we have to achieve a production capacity of 60 million tonnes. For this, it is very important for JSW Cement to be listed on the market. Currently, the company’s production capacity is 20.60 million tonnes per annum (MTPA). At present, the company has a presence in the southern, eastern and western states of the country. But now the company also wants to make its place in North and Central India. For this, the company will spend about Rs 3000 crore on a greenfield cement plant in Nagaur district of Rajasthan.
1500 crore rupees were taken from private equity investors
JSW Cement had raised Rs 1500 crore from private equity investors Apollo Global Management and Synergy Metals Investments Holding in July 2021. At that time also the company had said that the valuation of this investment would be decided at the time of the IPO. This IPO can create a stir in other companies of the cement sector. Adani Group has recently made several acquisitions and now plans to merge its cement business. On the other hand, UltraTech is also now engaged in maintaining its number one position in view of the challenge.
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