JSW Cement Ltd opened its first day on the stock exchanges with an impressive listing, beating grey market expectations. The shares debuted with a premium of over 4 percent compared to the IPO price, giving investors a positive start.
Strong IPO Subscription and Demand
The Rs 3,600-crore mainboard issue received an overwhelming response during its subscription window from August 7 to August 11, being subscribed 7.77 times. This strong demand reflected robust investor confidence in the company’s growth plans.
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Listing Performance on NSE and BSE
On the NSE, JSW Cement shares opened at Rs 153.5 per share, a 4.42 percent premium over the issue price. The IPO price band was Rs 139–147 per share. On the BSE, the shares listed at Rs 153 per share, marking a 4.08 percent premium.
Post-listing, the company’s market capitalization stood at Rs 20,914.02 crore. Before the IPO, JSW Cement had already raised Rs 1,080 crore from anchor investors.
Expansion Plans with IPO Proceeds
The company intends to use the IPO proceeds to part-finance a new integrated cement unit at Nagaur in Rajasthan, strengthening its production capacity and market reach.
Beating Grey Market Predictions
The grey market had predicted a listing gain of just over 3 percent, but the actual debut exceeded estimates, highlighting stronger-than-expected investor sentiment.
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