JSW Cement IPO

How To Check Allotment Status of JSW Cement IPO?

Get more information about JSW Cement IPO Attotment Status

1. Visit the Registrar's Website
To check the IPO allotment status for JSW Cement Limited IPO, visit the official website of KFin Technologies Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to BSE India and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

• Select 'Equity' from the dropdown menu
• Choose 'JSW Cement Limited' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search'

Your JSW Cement Limited IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check JSW Cement Limited IPO allotment status.

Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit'. Your JSW Cement Limited IPO bid and allotment details will be displayed.

About JSW Cement IPO

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include up to 10,88,43,537 equity shares of face value of ₹10 each aggregating up to ₹1,600 crores. The offer for sale portion includes up to 13,60,54,421 equity shares of face value of ₹10 each aggregating up to ₹2,000 crores. The total number of shares and aggregate amount are 24,48,97,958 shares aggregating up to ₹3600 cr.

JSW Cement Limited primarily manufactures and sells various types of cementitious products comprising blended cement (which includes PSC, PCC, and PPC), OPC, and GGBS. They also manufacture and sell clinker and a range of allied cementitious products such as RMC, screened slag, construction chemicals, and waterproofing compounds. They manufacture these products across their seven plants in the southern, western, and eastern regions of India and the JSW Cement FZC clinker unit in the UAE. Their products are used for the construction of small-scale projects such as homes and large-scale projects such as highways, dams, metros, bridges, among others.

Objective of JSW Cement IPO

• Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan.
• Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company.
• General corporate purposes.

Industry Outlook

The cement industry in India is estimated to have witnessed an investment of ₹1,30,000-1,35,000 crores in the past five years (fiscal 2021-2025E) with regard to adding new capacities, brownfield expansions, debottlenecking, and maintenance of existing plants. With a healthy demand outlook and increased competitive intensity, the players, especially the large ones, are implementing sizeable capex over the next five years with the aim to capture market share. Robust demand has bolstered the balance sheets of large players and mid-sized players with strong market presence, prompting them to expand capacity on the back of healthy cash accrual and credit profile.

Company Information

JSW Cement Limited started their operations in 2009 in the southern region of India through their single grinding unit in Vijayanagar, Karnataka. Since then, they have expanded their presence across the southern, western, and eastern regions of India and the UAE. Their product portfolio consists of blended cement (including PSC, PCC, and PPC), GGBS, ordinary Portland cement (“OPC”), clinker, and a range of allied cementitious products such as ready-mix concrete (“RMC”), screened slag, construction chemicals, and waterproofing compounds. As of 31 March 2025, they operated seven plants in India, which comprise one integrated unit, one clinker unit, and five grinding units across the states of Andhra Pradesh (Nandyal plant), Karnataka (Vijayanagar plant), Tamil Nadu (Salem plant), Maharashtra (Dolvi plant), West Bengal (Salboni plant), Odisha (Jajpur plant and their majority-owned Shiva Cement Limited clinker unit). JSW Cement FZC also operates one clinker unit in the UAE that supplies clinker to the Dolvi grinding unit in western India and to third-party customers.

Their plants are strategically located in close proximity to limestone mines and are well-connected by road and/or rail to cost- effectively source raw materials such as blast furnace slag, coal, and gypsum. For example, their Nandyal plant, which is an integrated unit, is located 1 km from the JSW Nandyal limestone mine. Further, the grinding units in Vijayanagar, Dolvi, and Salem are co-located with steel plants of JSW Steel Limited, which ensures cost-effective transportation of blast furnace slag to these grinding units. Their remaining grinding units in east India are well-connected by road and/or rail network to regional steel plants. For example, their Jajpur plant is located approximately 13 km by road from a major third-party steel plant in Kalinganagar, Odisha. Their plants are also strategically connected to their key markets by rail and road to enable them to serve customer demands across each region.

They have the lowest carbon dioxide emission intensity among their peer cement manufacturing companies in India and globally, according to the CRISIL Report. In fiscals 2023, 2024, and 2025, their carbon dioxide emission intensity was 206 kg per tonne, 270 kg per tonne, and 258 kg per tonne, respectively, which was approximately 62%, 51%, and 52% lower than the peer average in India, according to the CRISIL Report. Further, their carbon dioxide emission intensity in fiscal 2025 was 54% lower than that of top global cement companies in CY 2024, according to the CRISIL Report.

Strengths of JSW Cement IPO

• JSW Cement Limited is among the top three fastest-growing cement manufacturing companies in India in terms of increase in installed grinding capacity and sales volume from fiscal 2015 to fiscal 2025 (among the peers in terms of installed capacity and sales volume), according to the CRISIL Report.
  
• JSW Cement Limited is India's largest manufacturer of GGBS and they have a proven track record of scaling up this business.
  
• JSW Cement Limited has strategically located plants that are well-connected to raw material sources and key consumption markets.
  
• JSW Cement Limited has the lowest carbon dioxide emission intensity among their peer cement manufacturing companies in India and the top global cement manufacturing companies.
  
• JSW Cement Limited has an extensive sales and distribution network in India and they focus on strong brands.
  
• JSW Cement Limited benefits from its strong corporate lineage of the JSW Group and its qualified management team.
  

Risks of JSW Cement IPO

• Inability to mine and procure sufficient limestone for their operations.
• Dependence on adequate and uninterrupted availability of power and fuel for their operations.
• Any disruption in their distribution network.
• Any delays due to inefficiencies in the network or inadequacies in the connectivity of their plants to the Indian road and rail network.
• Any downturn in the sectors that consume their products or the infrastructure and housing industries in general.
• Seasonal variations and cyclicality that could result in fluctuations in their results of operations.
• Any failure to effectively compete with their competitors and the development of new cement manufacturing techniques.
• Manufacturing activities and mining operations are subject to risks of operational hazards and can cause injury to people or property in certain circumstances.
• Any failure of their software and information technology systems.
• Prolonged outage of operations, including due to breakdown of machinery at their plants.

Anchor Investor Bidding Date: 06 August 2025

*The Company, in consultation with the BRLMs, may consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investors shall Bid on the Anchor Investor Bidding Date, i.e., one Working Day prior to the Bid/Offer Opening Date.

Registrar: KFin Technologies Limited

Book Running Lead Managers: JM Financial Limited Axis Capital Limited Citigroup Global Markets India Private Limited DAM Capital Advisors Limited Goldman Sachs (India) Securities Private Limited Jefferies India Private Limited Kotak Mahindra Capital Company Limited SBI Capital Markets Limited

Business Model

The company earns its revenue through manufacturing green cementitious products comprising blended cement (which includes Portland slag cement ("PSC") and Portland composite cement ("PCC")) and ground granulated blast furnace slag ("GGBS"). They also manufacture ordinary Portland cement ("OPC"), clinker and a range of allied cementitious products such as ready-mix concrete ("RMC"), screened slag, construction chemicals and waterproofing compounds.

Company Growth Trajectory

JSW Cements Limited started their operations in 2009 in the southern region of India through their single grinding unit in Vijayanagar, Karnataka. Since then, they have expanded their presence across the southern, western and eastern regions of India and the UAE.

JSW Cements Limited shows fluctuating revenue performance, where their total income decreased by 3.27% to ₹5,914.67 crores in fiscal 2025 from ₹6,114.60 crores in fiscal 2024, primarily due to a decrease in their revenue from operations by 3.57% to ₹5,813.07 crores in fiscal 2025 from ₹6,028.10 crores in fiscal 2024. This decrease was primarily on account of reduction in cement realisation per tonne by 7.98% from ₹4,909.81 in fiscal 2024 to ₹4,517.93 in fiscal 2025, which offset the increase in sales volumes of cement and GGBS from 6.94 MMT and 5.08 MMT in fiscal 2024 to 7.09 MMT and 5.18 MMT in fiscal 2025, respectively. Their revenue also decreased with a decrease in government grants by 66.23% from ₹89.08 crores in fiscal 2024 to ₹30.08 crores in fiscal 2025.

Their other income increased by 17.46% to ₹101.59 crores in fiscal 2025 from ₹86.49 crores in fiscal 2024 primarily because of an increase in operating lease income.

As a result of the foregoing factors, their restated profit for the year decreased by 364.09% to ₹(163.77) crores in fiscal 2025 from a profit of ₹62.01 crores in fiscal 2024.

Company Market Position

JSW Cements Limited is among the top three fastest-growing cement manufacturing companies in India in terms of increase in installed grinding capacity and sales volume from fiscal 2015 to fiscal 2025 (among the peers in terms of installed capacity and sales volume), according to the CRISIL Report. They are among the top 10 cement companies in India in terms of installed capacity and sales volume as of 31 March 2025, according to the CRISIL Report. For the period from fiscal 2023 to fiscal 2025, their installed grinding capacity grew at a compound annual growth rate ("CAGR") of 12.42% and sales volume (excluding JSW Cement FZC) grew at a CAGR of 15.05%, which is faster than the industry average CAGR of 6.23% for installed capacity and 8.12% for sales volume during the said period according to the CRISIL Report.

They are India's largest manufacturer of ground granulated blast furnace slag ("GGBS"), an eco-friendly product produced entirely from blast furnace slag (a by-product of the steel manufacturing process), with a market share in terms of GGBS sales of 84.00% in fiscal 2025, according to the CRISIL Report.

As of 31st March, 2025, the company’s Total Income, Profit After Tax, and EBITDA stood at ₹5914.665 crores, ₹(163.769) crores, and ₹815.323 crores, respectively.

How to Apply for JSW Cement IPO?

To apply for JSW Cement IPO:

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.