JSW Cement pushes back IPO plans by two years to December 2022

Topics JSW Cement | JSW Group

Illustration: Ajay Mohanty

JSW Cement has pushed back its plans for an initial public offering by two years to around December 2022 due to slowdown and COVID-19 disruptions, a top company official said on Wednesday.

The company had already drawn an ambitious plan to expand its combined cement capacity to 25 million tonne by 2023 at a CapEx of Rs 3600 crore.

"In 2019, the sector had degrowth, in 2020 Covid hit us. Now December 2022 is a logical timeline for us for the IPO," JSW Cement managing director Parth Jindal said at a virtual briefing to announce expansion of Shiva Cement, in Odhisa.

The company, part of the $14 billion JSW Steel Group to bridge the gap was in process of raising Rs 1000-1500 crore through PE route by this fiscal, Jindal said.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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