Cement - Listed on 14 August 2025
JSW Cement (Cement) closed its IPO window in 2025 and listed on NSE and BSE on 14 August 2025 at an upper band issue price of Rs 147, opening at Rs 164 for a listing gain of +11.6% and closing day one at Rs 146.07 (-0.6% on closing basis). The IPO was subscribed 7.77x overall - QIB 15.80x, HNI/NII 10.97x, Retail 1.81x. The total issue size was Rs 3,600 Cr (Fresh Issue Rs 1600 Cr, OFS Rs 2000 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Cement
JSW Cement operates in the Cement space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The JSW Cement issue was offered at an upper price of Rs 147 and raised approximately Rs 3,600 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 20 | +13.61% |
| Day 2 | Rs 10 | +6.80% |
| Day 3 | Rs 6 | +4.08% |
| Day 4 | Rs 4 | +2.72% |
| Day 5 | Rs 6 | +4.08% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the JSW Cement IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
JSW Cement IPO listed at +11.6% versus the upper issue price of Rs 147 on 14 August 2025.
JSW Cement IPO was subscribed 7.77x overall. QIB portion was subscribed 15.80x, HNI / NII 10.97x and Retail 1.81x.
IPO GMP started at Rs 20 on Day 1 and moved to Rs 6 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.