The Securities and Exchange Board of India has officially lifted the abeyance on JSW Cement Ltd.’s long-awaited initial public offering. The IPO is now expected to follow the standard regulatory process, with final approval anticipated within the next 30 to 60 days, sources familiar with the matter told NDTV Profit.

In September last year, SEBI paused the IPO proceedings without an explanation, causing some uncertainty about the timeline for the company’s public listing.

JSW Cement, a leading player in the cement manufacturing industry, had filed its draft prospectus for the IPO in August 2024. The offering aims to raise approximately Rs 4,000 crore, comprising a fresh issue of Rs 2,000 crore and an equal amount through an offer for sale. Investors State Bank of India, AP Asia Opportunistic Holdings Pte., and Synergy Metals Investments Ltd. will offload their stake in the OFS portion.

Of the Rs 4,000 crore to be raised, Rs 800 crore will be used to partially fund the establishment of a new cement unit in Nagaur, Rajasthan. Additionally, the company plans to utilise part of the funds to pay down corporate borrowings.

The IPO will also enable existing investors to exit by selling a portion of their stake, offering an exit opportunity for early investors.

JSW Cement operates a diverse portfolio of products, including portland slag cement, ordinary portland cement, and Concreel HD, with an annual capacity of 20.6 million metric tonnes as of March 2024. The company has a strong presence across the building materials value chain, from cement manufacturing to construction chemicals.

The IPO will be managed by JM Financial Ltd., Axis Capital Ltd., Citigroup Global Markets India Pvt., DAM Capital Advisors Ltd., Goldman Sachs (India) Securities Pvt., Jefferies India Pvt., Kotak Mahindra Capital Co., and SBI Capital Markets Ltd. KFin Technologies is the registrar to the offer.

. Read more on Markets by NDTV Profit.JSW Cement IPO is now expected to follow the standard regulatory process sources, with approval likely in 30–60 days, people familiar with the matter told NDTV Profit.  Read MoreMarkets, Business 

​NDTV Profit