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JSW Cement IPO to open on August 7, price fixed at Rs 139- 147

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JSW Cement IPO to open on August 7, price fixed at Rs 139- 147

JSW Cement’s Initial Public Offering (IPO) will open for bidding on August 7. The company has fixed the price band at Rs 139 to Rs 147 per equity share. The IPO will be open for subscription till August 11, and the investors can bid for a minimum of 102 equity shares and multiples of 102 shares thereafter.

JSW Cement IPO size

JSW Cement’s IPO comprises Fresh Issue and Offer For Sale, with a total size of Rs 3600 crore. The JSW Group company is looking to raise Rs 1,600 crore under Fresh Issue and Rs 2,000 crore under Offer For Sale.

How will company utilise funds?

JSW Cement will utilise most of the proceeds from the fresh issue for capital expenditure and repayment of borrowings. The company said that it will use Rs 800 crore to part-finance the construction of a new integrated cement unit at Nagaur, Rajasthan.

Further, the company said that it will use 520 crore for repayment of certain loans availed by the company. The rest of the proceeds from the IPO  will be used for general corporate purposes.

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