JSW Cement, led by Parth Jindal, is reportedly gearing up to file draft papers with the Securities and Exchange Board of India (SEBI) for a ₹4,000 crore initial public offering (IPO). This marks the first major IPO in the sector since August 2021.

What Happened: JSW Cement, a part of the JSW Group, is expected to submit the draft red herring prospectus in the coming days, as per a Moneycontrol report. The IPO is likely to consist of a fresh issue component of ₹2,000 crore and an offer for sale of ₹2,000 crore, the report said citing sources.

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The offer for sale will enable partial exits for external investors such as Apollo Global Management, Synergy Metals Investment Holding, and SBI. The cement maker aims to raise growth capital via the listing and become one of the top five cement producers in India, with a capacity of 60 million tonnes per annum within the next five years.

The group’s first public offering in 13 years was marked by the listing of JSW Infrastructure in October. Investment banks including JM Financial, Kotak Mahindra Capital, Jefferies, Axis Capital, DAM Capital, Citi, Goldman Sachs, and SBI Capital are said to be working on the issue.

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