The company of JSW Group, JSW Cement got the nod from the SEBI in order to launch the IPO, known as per the sources. The company’s main aim is to raise funds through a public issue of ₹4000 crore. On 17 August, JSW cement had submitted its DRHP Draft Red Herring Prospectus to SEBI. And sources said that the Company got the green signal means got approval from SEBI to launch its IPO, opening the way for the investors and other factors to decide where to launch the IPO in the market.
This IPO consists of the combination of fresh issue and offer for sale component as well. Through this IPO, JSW Cement will raise funds of ₹ 2000 crores through fresh issue, other than that, the company will raise ₹2000 crores through Offer for sale component. Through the OFS component, the company’s promoters will exit and sell their shares. Apollo Global Management, Synergy Metals Investment Holding and SBI are some of the investors that will participate in the OFS component.
In August 2021, Nuvoco Vistas had launched an IPO by raising funds of ₹5000 crores. After this IPO, in the Cement sector, this is the first share selling company after Nuvoco Vistas.
JSW Cement entered the share bazar market at the time the cement sector was experiencing strong competition between Ultratech Cement (Birla group) and ACC-Ambuja (Adani group).
Investment banks who will manage the share sale of the company are JM Financial, Kotak Mahindra Capital, Jefferies, Axis Capital, DAM Capital, Citi, Goldman Sachs and SBI Capital. While Khaitan and Co is the legal counsel to the company.
About JSW Cement
JSW Cement is one of the leading cement manufacturing companies in India in terms of installed grinding capacity among the top 10 other manufacturing companies. The company portfolio consist of wide range of cements such as Concreel HD (CHD), Ordinary Portland Cement (OPC), Portland Slag Cement (PSC), Composite Cement (CPC) and Ground Granulated Blast Furnace Slag (GGBS). West Bengal, Maharashtra, Karnataka, Odisha, and Andhra Pradesh, are some of the states where the company runs their manufacturing facilities.
They had an installed clinker capacity of 6.44 MMTPA, including JSW Cement FZC, and a total installed grinding capacity of 20.60 MMTPA as of March 31, 2024, covering southern (11.00 MMTPA), western (4.50 MMTPA), and eastern (5.10 MMTPA) India. The year ended with March 31, 2024, the company generated revenue of ₹20.60 crores through Installed Grinding Capacity as at end of the year, respectively.
Gem Aromatics IPO Prospectus:
DRHP Draft Prospectus: | Click Here |
RHP Draft Prospectus: | To be Updated Soon |
Gem Aromatics Company Financial Report
Amount ₹ in Crores
Period Ended | Revenue | Expense | Profit After Tax |
2022 | ₹4863.48 | ₹4465.49 | ₹232.65 |
2023 | ₹5982.21 | ₹5838.68 | ₹104.04 |
2024 | ₹6114.60 | ₹5808.21 | ₹62.01 |
Gem Aromatics IPO Valuation – FY2024
Gem Aromatics IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
Earning Per Share (EPS): | ₹0.91 (Basic) |
Price/Earning P/E Ratio: | N/A |
Return on Net Worth (RoNW): | 3.64% |
Net Asset Value (NAV): | ₹24.99 |
Peer Group Comparison
Company | EPS | PE Ratio | RoNW % | NAV | Income |
UltraTech Cement Limited | 243.05 | 46.55 | 11.63% | 2,089.69 | 70,908.14 Cr. |
Ambuja Cements Limited | 17.99 | 37.93 | 8.63% | 208.53 | 33,159.64 Cr. |
Shree Cement Limited | 663.98 | 36.57 | 11.57% | 5,737.94 | 20,520.98 Cr. |
Dalmia Bharat Limited | 44.05 | 39.57 | 5.04% | 874.41 | 14,691.00 Cr. |
JK Cement Limited | 102.35 | 41.31 | 14.73% | 694.61 | 11,556.00 Cr. |
The Ramco Cements Limited | 15.77 | 50.66 | 4.97% | 317.20 | 9,376.35 Cr. |
India Cements Limited | (7.32) | NA | NA | NA | 5,112.24 Cr. |
Objects of the Issue
- Part financing the cost of establishing a new integrated cement unit at Nagaur, Rajasthan;
- Prepayment or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by
our Company; and - General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- DAM Capital Advisors Limited
- Goldman Sachs (India) Securities Private Limited
- Jefferies India Private Limited
- Kotak Mahindra Capital Company Limited
- SBI Capital Markets Limited