JSW Cement IPO Day 3: The JSW Cement IPO Day 3 has captured the attention of investors across India, with its subscription numbers and grey market premium (GMP) creating a buzz in the financial markets. As the initial public offering (IPO) of JSW Cement, a leading green cement manufacturer and part of the prestigious JSW Group, nears its closing on August 11, 2025, investors are eager to know the latest updates on subscription status, GMP trends, and whether this IPO is a worthy investment. This article dives deep into the JSW Cement IPO Day 3 details, offering insights into its performance, expert reviews, and key considerations for potential investors.
What is the JSW Cement IPO?
Contents
JSW Cement, known for its eco-friendly cement production, launched its ₹3,600 crore IPO on August 7, 2025. The public issue comprises a fresh issue of ₹1,600 crore and an offer for sale (OFS) of ₹2,000 crore. The price band is set at ₹139 to ₹147 per equity share, with a minimum lot size of 102 shares, requiring an investment of approximately ₹14,994 at the upper price band. The IPO is set to list on the BSE and NSE, with the tentative listing date scheduled for August 14, 2025.
The company plans to utilize the proceeds from the fresh issue for:
- Financing a new integrated cement unit in Nagaur, Rajasthan.
- Repaying or prepaying outstanding borrowings.
- General corporate purposes.
JSW Cement IPO Day 3 Subscription Status
As of 12:45 PM on August 11, 2025, the JSW Cement IPO Day 3 subscription status reflects a moderate yet improving response from investors. According to data from the National Stock Exchange (NSE), the IPO was subscribed 1.22 times, with bids for 221.4 million equity shares against the 181.29 million shares offered. Here’s a breakdown of the subscription by investor category:
Key Observations:
- Non-Institutional Investors (NIIs) showed the strongest demand, oversubscribing their portion by 1.64 times, indicating confidence from high-net-worth individuals.
- Retail Investors subscribed 1.10 times, reflecting steady but cautious participation.
- QIBs lagged slightly with a subscription of 1.11 times, suggesting institutional investors are taking a measured approach.
Compared to Day 2, where the IPO was subscribed 0.56 times, the JSW Cement IPO Day 3 has seen a significant uptick in demand, crossing the full subscription mark on its final day.
JSW Cement IPO GMP Today
The grey market premium (GMP) for the JSW Cement IPO Day 3 provides insight into investor sentiment in the unofficial market. As of August 11, 2025, the GMP stands at ₹4 to ₹5 per share, translating to an estimated listing price of ₹151 to ₹152, a modest 2.7% to 3.4% premium over the upper price band of ₹147. This is a decline from the GMP of ₹19 on August 5, 2025, reflecting weaker market sentiment due to recent volatility in the Indian stock market.
GMP Trend Analysis:
- August 5, 2025: GMP at ₹19, indicating strong initial optimism.
- August 8, 2025: GMP dropped to ₹4, a low point amid market corrections.
- August 11, 2025: GMP stabilized at ₹4–₹5, suggesting cautious optimism for listing gains.
Disclaimer: GMP is an unofficial indicator and not regulated by SEBI or stock exchanges. Investors should conduct thorough research before relying on GMP for investment decisions.
Expert Reviews and Recommendations
Several brokerage firms have weighed in on the JSW Cement IPO, with most recommending a subscribe rating for long-term investors. Here’s what analysts are saying:
Reliance Securities – Subscribe
- Highlights JSW Cement’s leadership in eco-friendly cement production and its alignment with growing infrastructure and housing demand.
- Cites the company’s cost advantages and ESG (Environmental, Social, and Governance) performance as key strengths.
- Recommends subscribing for sustained growth potential post-IPO.
Ventura Securities – Subscribe
- Notes JSW Cement’s capacity expansion plans in Rajasthan, Punjab, and Madhya Pradesh, which will diversify its geographic footprint.
- Expects profitability to rebound in FY26 due to efficiency gains and higher volumes.
Canara Bank Securities – Subscribe (Long-Term)
- Emphasizes JSW Cement’s position as India’s fastest-growing and the world’s “greenest” cement producer.
- Acknowledges higher valuations (32x EV/EBITDA vs. 23x industry average) but recommends subscribing for long-term growth and JSW Group synergies.
AUM Capital – Subscribe
- Points to JSW Cement’s market leadership in Ground Granulated Blast Furnace Slag (GGBS) production and operational synergies.
Other brokerages, including SBI Securities, Lajshmishree Investment, BP Equities, and INDSEC Securities, also recommend subscribing, citing the company’s strong fundamentals and growth prospects.
Financial Performance and Growth Prospects
JSW Cement reported revenues of ₹6,028 crore in FY24, up from ₹5,837 crore in FY23, reflecting steady top-line growth. However, net profit declined to ₹62 crore in FY24 from ₹104 crore in FY23, primarily due to one-off fair value adjustments and strategic investments. Analysts expect profitability to improve with capacity expansions and operational efficiencies.
The company operates seven plants across India, with a total installed grinding capacity of 20.60 MMTPA as of March 31, 2025. Its focus on sustainable cement production, particularly GGBS (84% market share in FY24–25), positions it well in a market increasingly prioritizing low-carbon building materials.
Should You Invest in the JSW Cement IPO?
The JSW Cement IPO Day 3 performance indicates growing investor interest, though the subscription rate remains modest compared to other high-profile IPOs. Here are key considerations for potential investors:
Pros:
- Strong Brand: Backed by the JSW Group, a trusted name in Indian industry.
- Sustainability Focus: Leadership in eco-friendly cement production aligns with global trends.
- Growth Potential: Expansion plans and increasing demand for cement in infrastructure and housing sectors.
Cons:
- Modest GMP: The low GMP suggests limited listing gains, especially in a volatile market.
- Profitability Concerns: Recent decline in net profit may raise concerns for short-term investors.
- High Valuation: The IPO’s valuation is higher than the industry average, which may deter some investors.
For long-term investors, the JSW Cement IPO offers a chance to invest in a future-ready cement player with strong growth prospects. However, short-term investors may want to temper expectations due to the modest GMP and market volatility.
Conclusion
The JSW Cement IPO Day 3 has shown a marked improvement in subscription status, reaching 1.22 times, with NIIs leading the demand. The GMP of ₹4–₹5 indicates cautious optimism for listing gains, while expert reviews unanimously recommend subscribing for long-term growth. With its focus on sustainability, strategic expansions, and the backing of the JSW Group, this IPO presents a compelling opportunity for investors willing to hold for the long haul.
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